Proficio Capital Partners LLC Makes New Investment in Target Corporation $TGT

Proficio Capital Partners LLC bought a new stake in Target Corporation (NYSE:TGT) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 8,383 shares of the retailer’s stock, valued at approximately $1,095,000.

A number of other institutional investors have also recently made changes to their positions in the company. WFA of San Diego LLC purchased a new stake in Target in the 2nd quarter worth about $25,000. Jessup Wealth Management Inc purchased a new stake in Target during the fourth quarter valued at about $25,000. Richardson Financial Services Inc. bought a new position in Target during the second quarter worth about $26,000. Altshuler Shaham Ltd bought a new position in Target during the fourth quarter worth about $26,000. Finally, MidFirst Bank purchased a new position in shares of Target in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Up 0.2%

Shares of Target stock opened at $163.85 on Thursday. The company’s 50-day moving average price is $142.87 and its 200-day moving average price is $129.27. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80. Target Corporation has a 12-month low of $83.44 and a 12-month high of $170.75. The company has a market cap of $74.42 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 3.03 and a beta of 0.97.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, beating the consensus estimate of $2.35 by $1.76. The company had revenue of $26.54 billion during the quarter, compared to analysts’ expectations of $26.13 billion. Target had a net margin of 4.08% and a return on equity of 23.23%. Target’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, equities analysts expect that Target Corporation will post 8.88 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared 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. This is an increase from Target’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.8%. Target’s dividend payout ratio (DPR) is presently 48.18%.

Insider Transactions at Target

In related news, insider Melissa K. Kremer sold 15,500 shares of the business’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 completion of the transaction, the insider directly owned 56,981 shares in the company, valued at $9,684,490.76. The trade was a 21.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew A. Liegel sold 926 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $163.51, for a total value of $151,410.26. Following the completion of the transaction, the chief accounting officer owned 12,266 shares in the company, valued at $2,005,613.66. This represents a 7.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 26,426 shares of company stock valued at $4,044,690. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wolfe Research set a $169.00 price target on shares of Target in a research report on Monday, August 3rd. Roth Capital reaffirmed a “neutral” rating and issued a $142.00 price objective on shares of Target in a report on Thursday, August 20th. JPMorgan Chase & Co. lifted their price objective on shares of Target from $129.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Bank of America reissued an “underperform” rating and set a $124.00 target price (up from $110.00) on shares of Target in a report on Wednesday, August 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Target in a report on Thursday, August 20th. Eleven analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $159.52.

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.