MOR Wealth Management LLC bought a new position in shares of Target Corporation (NYSE:TGT – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 3,135 shares of the retailer’s stock, valued at approximately $409,000.
A number of other institutional investors have also added to or reduced their stakes in TGT. WFA of San Diego LLC purchased a new stake in shares of Target in the 2nd quarter worth approximately $25,000. Jessup Wealth Management Inc purchased a new position in Target during the fourth quarter valued at approximately $25,000. Altshuler Shaham Ltd purchased a new position in Target during the fourth quarter valued at approximately $26,000. Richardson Financial Services Inc. bought a new position in Target in the second quarter worth approximately $26,000. Finally, Kimelman & Baird LLC bought a new position in Target in the second quarter worth approximately $26,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.
Analyst Ratings Changes
Several analysts have issued reports on the company. Mizuho set a $150.00 target price on Target in a research report on Thursday, August 20th. Telsey Advisory Group boosted their price target on Target from $170.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Guggenheim upped their price objective on Target from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Weiss Ratings raised Target from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Wall Street Zen upgraded Target from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Eleven research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $159.52.
Insider Activity
In related news, insider Melissa Kremer sold 15,500 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the transaction, the insider directly owned 56,981 shares of the company’s stock, valued at $9,684,490.76. This represents a 21.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Matthew Liegel sold 926 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $163.51, for a total value of $151,410.26. Following the completion of the sale, the chief accounting officer owned 12,266 shares of the company’s stock, valued at approximately $2,005,613.66. This trade represents a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.13% of the company’s stock.
Target Price Performance
Shares of TGT opened at $164.15 on Friday. The company has a 50 day moving average of $146.84 and a two-hundred day moving average of $131.57. The company has a quick ratio of 0.36, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. Target Corporation has a twelve month low of $83.44 and a twelve month high of $170.75. The company has a market cap of $74.57 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 3.05 and a beta of 0.99.
Target (NYSE:TGT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%.The business had revenue of $26.54 billion for the quarter, compared to the consensus estimate of $26.13 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, analysts predict that Target Corporation will post 8.85 earnings per share for the current fiscal year.
Target Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th were paid a dividend of $1.16 per share. This is a positive change from Target’s previous quarterly dividend of $1.14. The ex-dividend date was Wednesday, August 12th. This represents a $4.64 annualized dividend and a yield of 2.8%. Target’s dividend payout ratio (DPR) is presently 48.18%.
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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