4,692 Shares in Target Corporation $TGT Bought by Independent Financial Group LLC

Independent Financial Group LLC bought a new position in Target Corporation (NYSE:TGT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,692 shares of the retailer’s stock, valued at approximately $569,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Target in the 4th quarter worth about $587,903,000. TOMS Capital Investment Management LP acquired a new position in shares of Target during the fourth quarter worth approximately $257,571,000. AQR Capital Management LLC boosted its position in shares of Target by 243.8% during the fourth quarter. AQR Capital Management LLC now owns 2,870,210 shares of the retailer’s stock worth $280,563,000 after buying an additional 2,035,298 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Target by 6,639.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,912,963 shares of the retailer’s stock worth $186,992,000 after buying an additional 1,884,577 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Target by 104.7% in the 4th quarter. Marshall Wace LLP now owns 65,505 shares of the retailer’s stock worth $6,403,000 after buying an additional 1,448,146 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Target Price Performance

Shares of NYSE:TGT opened at $138.01 on Thursday. Target Corporation has a 12 month low of $83.44 and a 12 month high of $144.40. The stock has a market cap of $62.68 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.70 and a beta of 0.98. The stock’s 50 day moving average price is $130.43 and its 200 day moving average price is $121.45. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $24.66 billion. During the same period last year, the company posted $1.30 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Equities research analysts anticipate 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. Investors of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. This is an increase from Target’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 12th. Target’s dividend payout ratio (DPR) is 60.24%.

Wall Street Analyst Weigh In

Several analysts have weighed in on TGT shares. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Target in a research note on Monday, June 15th. Piper Sandler reissued a “neutral” rating on shares of Target in a research note on Friday, June 12th. Freedom Capital lowered Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Truist Financial lifted their price objective on shares of Target from $123.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. Finally, Zacks Research raised shares of Target from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Target presently has an average rating of “Hold” and an average price target of $132.15.

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.