IFM Investors Pty Ltd Buys 9,377 Shares of Target Corporation $TGT

IFM Investors Pty Ltd grew its stake in shares of Target Corporation (NYSE:TGT) by 11.1% during the first quarter, Holdings Channel reports. The institutional investor owned 94,063 shares of the retailer’s stock after buying an additional 9,377 shares during the period. IFM Investors Pty Ltd’s holdings in Target were worth $11,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TGT. Severin Investments LLC purchased a new stake in Target in the 1st quarter worth approximately $295,000. Capricorn Fund Managers Ltd purchased a new position in Target during the first quarter valued at approximately $1,742,000. First Pacific Financial boosted its position in shares of Target by 3.7% in the first quarter. First Pacific Financial now owns 6,726 shares of the retailer’s stock worth $815,000 after purchasing an additional 238 shares during the period. Exeter Financial LLC boosted its position in shares of Target by 9.6% in the first quarter. Exeter Financial LLC now owns 40,301 shares of the retailer’s stock worth $4,884,000 after purchasing an additional 3,544 shares during the period. Finally, Premier Path Wealth Partners LLC increased its stake in shares of Target by 86.3% in the first quarter. Premier Path Wealth Partners LLC now owns 4,802 shares of the retailer’s stock worth $582,000 after purchasing an additional 2,225 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Activity at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were 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 of the company’s stock, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Target Stock Down 0.3%

TGT opened at $130.26 on Thursday. The company has a market capitalization of $59.16 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.55 and a beta of 0.98. The firm has a 50-day simple moving average of $128.26 and a two-hundred day simple moving average of $117.53. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. Target Corporation has a 52 week low of $83.44 and a 52 week high of $142.82.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.24. The firm had revenue of $25.44 billion for the quarter, compared to analysts’ expectations of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The business’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Analysts forecast that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be given a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is currently 60.24%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Target from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. The Goldman Sachs Group reissued a “neutral” rating on shares of Target in a report on Thursday, June 11th. Mizuho set a $120.00 price objective on Target in a research report on Thursday, March 5th. BMO Capital Markets upped their price objective on Target from $105.00 to $130.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 4th. Finally, Barclays reiterated an “underweight” rating on shares of Target in a research report on Monday, June 1st. Twelve equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Target has an average rating of “Hold” and an average price target of $130.64.

About Target

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.