MTM Investment Management LLC Acquires Shares of 1,609 Target Corporation $TGT

MTM Investment Management LLC acquired a new stake in shares of Target Corporation (NYSE:TGT) in the second quarter, HoldingsChannel.com reports. The firm acquired 1,609 shares of the retailer’s stock, valued at approximately $159,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kozak & Associates Inc. increased its holdings in Target by 2,530.0% in the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after buying an additional 253 shares in the last quarter. Raleigh Capital Management Inc. grew its position in Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after purchasing an additional 102 shares during the period. Investment Research & Advisory Group Inc. purchased a new stake in Target during the 2nd quarter valued at $29,000. WPG Advisers LLC bought a new position in shares of Target during the 1st quarter valued at $32,000. Finally, Global Assets Advisory LLC purchased a new position in shares of Target in the 2nd quarter worth $31,000. Institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TGT shares. Truist Financial cut their price target on Target from $102.00 to $83.00 and set a “hold” rating for the company in a research note on Thursday, October 2nd. UBS Group decreased their price objective on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 21st. Wall Street Zen raised shares of Target from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Jefferies Financial Group lowered their price target on shares of Target from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Finally, Zacks Research cut shares of Target from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Nine analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Target has a consensus rating of “Hold” and an average price target of $108.71.

Target Stock Performance

Target stock opened at $89.96 on Friday. Target Corporation has a 1-year low of $85.36 and a 1-year high of $158.42. The company’s 50-day moving average is $90.54 and its 200 day moving average is $96.20. The firm has a market capitalization of $40.88 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. The business had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a yield of 5.1%. Target’s dividend payout ratio is 53.15%.

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.