Contravisory Investment Management Inc. Invests $9.26 Million in Target Corporation $TGT

Contravisory Investment Management Inc. acquired a new position in shares of Target Corporation (NYSE:TGT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 76,407 shares of the retailer’s stock, valued at approximately $9,261,000. Target makes up approximately 1.9% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 14th largest position.

Several other institutional investors have also recently added to or reduced their stakes in TGT. WFA of San Diego LLC acquired a new position in shares of Target in the second quarter valued at approximately $25,000. Jessup Wealth Management Inc purchased a new position in shares of Target during the 4th quarter worth $25,000. Altshuler Shaham Ltd purchased a new position in shares of Target during the 4th quarter worth $26,000. Global Wealth Strategies & Associates boosted its holdings in shares of Target by 192.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock worth $29,000 after purchasing an additional 192 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Target during the fourth quarter worth $30,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Shares of Target stock opened at $139.65 on Friday. The business has a fifty day simple moving average of $127.65 and a 200-day simple moving average of $116.43. 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 Corporation has a 12 month low of $83.44 and a 12 month high of $142.82. The stock has a market cap of $63.43 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.76 and a beta of 1.00.

Target (NYSE:TGT) last posted its 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. The firm had revenue of $25.44 billion during the quarter, compared to analysts’ expectations of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, sell-side analysts anticipate that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be given a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 annualized dividend and a yield of 3.3%. This is a positive change from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio (DPR) is 60.24%.

Insider Activity at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the firm’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 completion of the transaction, the insider directly owned 45,930 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on TGT shares. Barclays restated an “underweight” rating on shares of Target in a report on Monday, June 1st. Argus set a $150.00 price target on Target in a report on Friday, May 22nd. 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. Robert W. Baird lifted their price objective on shares of Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Finally, BMO Capital Markets boosted their price target on shares of Target from $105.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, March 4th. Twelve research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Target has an average rating of “Hold” and an average target price of $129.00.

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.