Pavion Blue Capital LLC acquired a new position in shares of Target Corporation (NYSE:TGT – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund acquired 4,593 shares of the retailer’s stock, valued at approximately $600,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. WFA of San Diego LLC bought a new position in Target in the 2nd quarter worth $25,000. Jessup Wealth Management Inc acquired a new stake in shares of Target in the fourth quarter valued at about $25,000. Altshuler Shaham Ltd bought a new position in shares of Target in the fourth quarter worth about $26,000. MidFirst Bank bought a new position in shares of Target in the fourth quarter worth about $31,000. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Target by 245.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer’s stock worth $33,000 after purchasing an additional 194 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Bank of America reaffirmed an “underperform” rating and issued a $124.00 target price (up from $110.00) on shares of Target in a report on Wednesday, August 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Target in a report on Friday, July 31st. Barclays reissued an “underweight” rating on shares of Target in a research report on Monday, June 1st. Evercore set a $150.00 price objective on shares of Target in a research note on Tuesday, August 4th. Finally, Guggenheim boosted their target price on shares of Target from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $143.85.
Target Stock Down 2.3%
TGT stock opened at $150.94 on Tuesday. Target Corporation has a twelve month low of $83.44 and a twelve month high of $156.47. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The company has a market cap of $68.56 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.96. The business’s 50-day simple moving average is $138.56 and its 200 day simple moving average is $126.62.
Target (NYSE:TGT – Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm had revenue of $25.44 billion during the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter in the prior year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, research analysts anticipate that Target Corporation will post 8.4 earnings per share for the current year.
Target Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. This is a positive change from Target’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.1%. Target’s dividend payout ratio is currently 61.29%.
Insider Activity at Target
In related news, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the transaction, the insider directly owned 45,930 shares in the company, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.
Target Company Profile
Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.
Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.
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