Ritholtz Wealth Management Raises Position in Target Corporation $TGT

Ritholtz Wealth Management increased its position in Target Corporation (NYSE:TGT) by 102.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,639 shares of the retailer’s stock after purchasing an additional 4,377 shares during the period. Ritholtz Wealth Management’s holdings in Target were worth $1,047,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. WFA of San Diego LLC bought a new stake in Target during the 2nd quarter valued at about $25,000. Jessup Wealth Management Inc bought a new stake in shares of Target during the fourth quarter valued at approximately $25,000. Altshuler Shaham Ltd purchased a new position in Target in the 4th quarter worth approximately $26,000. Global Wealth Strategies & Associates lifted its position in Target by 192.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in Target during the 4th quarter valued at $30,000. 79.73% of the stock is owned by institutional investors.

Target Stock Down 0.1%

Shares of TGT opened at $140.23 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The business has a fifty day moving average of $128.00 and a 200 day moving average of $116.76. The company has a market cap of $63.69 billion, a PE ratio of 18.52, a P/E/G ratio of 2.74 and a beta of 1.00. Target Corporation has a 52-week low of $83.44 and a 52-week high of $142.82.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The business’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. On average, sell-side analysts expect that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

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

Insider Activity at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the company’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 owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TGT shares. Argus set a $150.00 target price on Target in a research report on Friday, May 22nd. BMO Capital Markets increased their price target on Target from $105.00 to $130.00 and gave the company a “market perform” rating in a research note on Wednesday, March 4th. Freedom Capital downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 20th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Target in a research report on Monday, June 15th. Finally, Royal Bank Of Canada lifted their price objective on shares of Target from $132.00 to $153.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Twelve investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $130.64.

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.