Target Co. (NYSE:TGT) Shares Purchased by Corundum Group Inc.

Corundum Group Inc. increased its holdings in shares of Target Co. (NYSE:TGT) by 23.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,272 shares of the retailer’s stock after buying an additional 1,745 shares during the quarter. Corundum Group Inc.’s holdings in Target were worth $1,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Little House Capital LLC purchased a new stake in Target in the first quarter valued at approximately $1,041,000. Nordea Investment Management AB increased its holdings in shares of Target by 23.6% during the 1st quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock worth $112,686,000 after buying an additional 122,706 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Target by 11.4% in the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after buying an additional 6,690 shares during the period. Janney Capital Management LLC acquired a new position in Target in the first quarter valued at $13,958,000. Finally, Blue Chip Partners LLC grew its position in Target by 5.1% during the fourth quarter. Blue Chip Partners LLC now owns 130,179 shares of the retailer’s stock valued at $18,540,000 after acquiring an additional 6,348 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TGT shares. Morgan Stanley reduced their price objective on Target from $190.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Robert W. Baird reiterated an “outperform” rating and set a $190.00 price objective on shares of Target in a research note on Thursday, May 23rd. BMO Capital Markets dropped their price objective on shares of Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. Piper Sandler initiated coverage on shares of Target in a report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 target price on the stock. Finally, BNP Paribas initiated coverage on Target in a report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.75.

Target Stock Performance

Shares of NYSE TGT traded up $5.91 during trading on Thursday, reaching $141.67. The stock had a trading volume of 4,635,795 shares, compared to its average volume of 3,890,366. The firm’s 50 day moving average price is $145.25 and its two-hundred day moving average price is $154.18. Target Co. has a one year low of $102.93 and a one year high of $181.86. The stock has a market cap of $65.54 billion, a PE ratio of 15.90, a P/E/G ratio of 1.38 and a beta of 1.19. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. During the same period last year, the company posted $2.05 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, research analysts forecast that Target Co. will post 9.31 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 3.16%. Target’s dividend payout ratio is 50.28%.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.