Basepoint Wealth LLC Raises Holdings in Target Corporation $TGT

Basepoint Wealth LLC increased its stake in shares of Target Corporation (NYSE:TGT) by 528.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,993 shares of the retailer’s stock after purchasing an additional 4,198 shares during the period. Basepoint Wealth LLC’s holdings in Target were worth $605,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Target during the 4th quarter valued at $587,903,000. TOMS Capital Investment Management LP acquired a new position in shares of Target in the fourth quarter worth $257,571,000. AQR Capital Management LLC raised its holdings in shares of Target by 243.8% in the fourth quarter. AQR Capital Management LLC now owns 2,870,210 shares of the retailer’s stock worth $280,563,000 after acquiring an additional 2,035,298 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Target by 6,639.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,912,963 shares of the retailer’s stock valued at $186,992,000 after acquiring an additional 1,884,577 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Target by 104.7% in the fourth quarter. Marshall Wace LLP now owns 65,505 shares of the retailer’s stock valued at $6,403,000 after acquiring an additional 1,448,146 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the 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 transaction, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.

Target Price Performance

TGT stock opened at $139.93 on Monday. The stock has a market capitalization of $63.55 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98. 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 52-week low of $83.44 and a 52-week high of $144.40. The stock’s fifty day simple moving average is $129.35 and its 200-day simple moving average is $120.58.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Equities research analysts expect that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is currently 60.24%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Guggenheim increased their price objective on Target from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $123.00 target price on shares of Target in a research note on Friday, May 15th. DA Davidson upped their target price on shares of Target from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Citigroup raised their price target on shares of Target from $117.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Target in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $131.96.

Target Company 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.