Carnegie Investment Counsel Has $4.45 Million Stock Position in Target Corporation $TGT

Carnegie Investment Counsel increased its stake in Target Corporation (NYSE:TGT) by 11.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,677 shares of the retailer’s stock after purchasing an additional 3,734 shares during the period. Carnegie Investment Counsel’s holdings in Target were worth $4,445,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGT. WFA of San Diego LLC bought a new stake in Target during the second quarter worth about $25,000. Jessup Wealth Management Inc bought a new position in Target in the 4th quarter valued at about $25,000. Altshuler Shaham Ltd bought a new position in Target in the 4th quarter valued at about $26,000. Global Wealth Strategies & Associates raised its position in shares of 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 buying an additional 192 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Target in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Transactions at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the transaction, the insider owned 45,930 shares in the company, valued at $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TGT. Guggenheim upped their price target on shares of Target from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Jefferies Financial Group lifted their price objective on shares of Target from $140.00 to $161.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Truist Financial boosted their price objective on shares of Target from $123.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, May 20th. Evercore set a $130.00 target price on Target in a research note on Monday, May 18th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Target in a report on Thursday, June 11th. Twelve equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Target currently has an average rating of “Hold” and a consensus target price of $130.64.

Target Price Performance

TGT stock opened at $134.94 on Monday. The company has a fifty day moving average price of $128.40 and a 200-day moving average price of $119.16. The company has a market capitalization of $61.29 billion, a P/E ratio of 17.83, a PEG ratio of 2.64 and a beta of 0.98. Target Corporation has a 52-week low of $83.44 and a 52-week high of $142.82. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. The company had revenue of $25.44 billion for the quarter, compared to analyst estimates of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. Target’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, equities analysts expect that Target Corporation will post 8.35 EPS for the current 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 $1.16 dividend. 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 3.4%. Target’s dividend payout ratio is presently 61.29%.

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.