Western Wealth Management LLC Raises Position in Target Corporation $TGT

Western Wealth Management LLC boosted its holdings in shares of Target Corporation (NYSE:TGT) by 142.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,590 shares of the retailer’s stock after buying an additional 3,872 shares during the period. Western Wealth Management LLC’s holdings in Target were worth $799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after purchasing an additional 3,059 shares in the last quarter. Woodline Partners LP grew its stake in Target by 39.9% in the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock worth $4,040,000 after buying an additional 11,047 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Target by 22.8% in the 2nd quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer’s stock worth $6,872,000 after buying an additional 12,948 shares during the last quarter. Sei Investments Co. raised its position in shares of Target by 8.0% during the 2nd quarter. Sei Investments Co. now owns 190,860 shares of the retailer’s stock valued at $18,832,000 after buying an additional 14,195 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Target by 11.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer’s stock worth $26,910,000 after acquiring an additional 27,063 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

Shares of NYSE:TGT opened at $144.55 on Monday. The stock has a market cap of $65.65 billion, a PE ratio of 19.10, a PEG ratio of 2.83 and a beta of 0.96. The company’s fifty day moving average is $132.87 and its 200 day moving average is $123.30. Target Corporation has a 52 week low of $83.44 and a 52 week high of $147.77. 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 (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The business had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The firm’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. Research analysts anticipate that Target Corporation will post 8.32 earnings per share for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 annualized dividend and a yield of 3.2%. This is a boost from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio (DPR) is currently 60.24%.

Insiders Place Their Bets

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TGT. Telsey Advisory Group upped their target price on shares of Target from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. DA Davidson raised their price target on Target from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Target in a research note on Thursday, June 11th. Wells Fargo & Company upped their price objective on Target from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Evercore set a $130.00 price objective on Target in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $133.48.

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.