Callodine Capital Management LP Raises Stock Holdings in Target Corporation $TGT

Callodine Capital Management LP increased its stake in Target Corporation (NYSE:TGT) by 39.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 176,142 shares of the retailer’s stock after purchasing an additional 50,142 shares during the period. Target makes up approximately 1.5% of Callodine Capital Management LP’s portfolio, making the stock its 22nd biggest holding. Callodine Capital Management LP’s holdings in Target were worth $21,348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. WFA of San Diego LLC purchased a new position in Target in the 2nd quarter worth approximately $25,000. Jessup Wealth Management Inc purchased a new stake in shares of Target during the 4th quarter valued at $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Target during the 4th quarter valued at $26,000. Eagle Bay Advisors LLC bought a new stake in shares of Target during the 4th quarter worth $30,000. Finally, MidFirst Bank bought a new stake in shares of Target during the 4th quarter worth $31,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Price Performance

TGT opened at $136.85 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. The stock has a market capitalization of $62.16 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.67 and a beta of 0.98. The stock’s 50 day moving average price is $130.97 and its 200-day moving average price is $121.80. Target Corporation has a 52-week low of $83.44 and a 52-week high of $144.40.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. The company had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, equities research analysts predict that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The business 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 $1.16 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 3.4%. This is a positive change from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is 60.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Telsey Advisory Group increased their target price on Target from $148.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Evercore set a $130.00 price objective on Target in a report on Monday, May 18th. Guggenheim increased their price objective on Target from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Jefferies Financial Group increased their target price on shares of Target from $140.00 to $161.00 and gave the company a “buy” rating in a report on Friday, June 26th. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $114.00 price target on shares of Target in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $132.15.

Insider Buying and Selling at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the transaction, the insider owned 45,930 shares in the company, valued at $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Target 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.