Engineers Gate Manager LP Has $48.66 Million Position in Target Corporation $TGT

Engineers Gate Manager LP boosted its position in shares of Target Corporation (NYSE:TGT) by 4,119.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 372,558 shares of the retailer’s stock after purchasing an additional 363,728 shares during the period. Target accounts for approximately 0.6% of Engineers Gate Manager LP’s portfolio, making the stock its 15th biggest position. Engineers Gate Manager LP’s holdings in Target were worth $48,660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WFA of San Diego LLC bought a new position in shares of Target during the 2nd quarter worth about $25,000. Jessup Wealth Management Inc acquired a new stake in Target during the 4th quarter valued at $25,000. Richardson Financial Services Inc. bought a new position in shares of Target in the second quarter worth about $26,000. Kimelman & Baird LLC acquired a new position in shares of Target during the second quarter valued at $26,000. Finally, Altshuler Shaham Ltd bought a new position in Target in the fourth quarter valued at approximately $26,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

NYSE:TGT opened at $162.68 on Wednesday. The stock has a fifty day moving average price of $148.09 and a 200-day moving average price of $132.35. The company has a market cap of $73.91 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 3.06 and a beta of 0.99. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $170.75.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%.The company had revenue of $26.54 billion for the quarter, compared to analysts’ expectations of $26.13 billion. During the same quarter last year, the business earned $2.05 earnings per share. Target’s revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, equities analysts anticipate that Target Corporation will post 8.85 EPS for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th were given a dividend of $1.16 per share. The ex-dividend date was Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 2.9%. This is a positive change from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio (DPR) is 48.18%.

Insider Buying and Selling

In other Target news, CAO Matthew Liegel sold 926 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the completion of the transaction, the chief accounting officer directly owned 12,266 shares in the company, valued at $2,005,613.66. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Melissa Kremer sold 15,500 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $169.96, for a total value of $2,634,380.00. Following the sale, the insider owned 56,981 shares of the company’s stock, valued at $9,684,490.76. The trade was a 21.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $150.00 price objective on shares of Target in a research report on Thursday, August 20th. Royal Bank Of Canada increased their target price on shares of Target from $166.00 to $178.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Jefferies Financial Group raised their price target on Target from $161.00 to $177.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Bank of America reissued an “underperform” rating and issued a $124.00 price objective (up from $110.00) on shares of Target in a research report on Wednesday, August 12th. Finally, Zacks Research cut shares of Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $159.52.

Target Company Profile

Target Corporation is a general merchandise retailer that operates stores and digital shopping channels across the United States. Its assortment includes apparel and accessories, beauty products, home furnishings and décor, electronics, toys, sporting goods, household essentials, groceries and other everyday merchandise.

Target offers a combination of in-store and digital services, including order pickup, Drive Up and same-day delivery through Shipt. The company also develops and sells a broad portfolio of owned brands, while offering national-brand products and merchandise through a range of seasonal and specialty categories.

The company traces its history to the Dayton Company, founded in Minneapolis in 1902.