Ontario Teachers Pension Plan Board Increases Stock Holdings in Target Corporation $TGT

by · The Cerbat Gem

Ontario Teachers Pension Plan Board increased its stake in Target Corporation (NYSE:TGT – Free Report) by 36.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 20,875 shares of the retailer’s stock after acquiring an additional 5,618 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Target were worth $2,059,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TGT. Punch & Associates Investment Management Inc. boosted its stake in shares of Target by 48.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock worth $8,786,000 after acquiring an additional 27,329 shares during the last quarter. Precedent Wealth Partners LLC lifted its holdings in Target by 27.7% in the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after purchasing an additional 2,869 shares in the last quarter. PDT Partners LLC acquired a new stake in Target during the 1st quarter worth $4,623,000. Mattern Capital Management LLC grew its holdings in shares of Target by 7.6% during the second quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock worth $7,809,000 after buying an additional 5,573 shares in the last quarter. Finally, Northern Financial Advisors Inc acquired a new stake in shares of Target in the second quarter valued at about $370,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TGT shares. Truist Financial lowered their price target on shares of Target from $102.00 to $83.00 and set a “hold” rating on the stock in a research report on Thursday, October 2nd. Zacks Research cut Target from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Jefferies Financial Group dropped their price target on Target from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Guggenheim reiterated a “buy” rating and set a $115.00 price objective on shares of Target in a research report on Monday, October 27th. Finally, UBS Group lowered 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. Nine equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $108.71.

View Our Latest Report on Target

Target Price Performance

NYSE:TGT opened at $89.96 on Monday. The company has a market capitalization of $40.88 billion, a P/E ratio of 10.49, a P/E/G ratio of 2.74 and a beta of 1.19. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target Corporation has a 52 week low of $85.36 and a 52 week high of $158.42. The stock’s fifty day moving average is $90.54 and its two-hundred day moving average is $96.20.

Target (NYSE:TGT – Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. During the same period last year, the company earned $2.57 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities analysts expect 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. Stockholders of record on Wednesday, November 12th will be issued a $1.14 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 5.1%. This is an increase from Target’s previous quarterly dividend of $1.12. Target’s dividend payout ratio (DPR) is currently 53.15%.

Target Profile

(Free Report)

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.

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