OP Asset Management Ltd Makes New $5.58 Million Investment in Target Corporation $TGT

OP Asset Management Ltd acquired a new stake in Target Corporation (NYSE:TGT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 46,082 shares of the retailer’s stock, valued at approximately $5,585,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Target by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock worth $5,690,262,000 after buying an additional 286,499 shares during the last quarter. State Street Corp raised its stake in Target by 0.3% during the 4th quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock valued at $3,692,265,000 after acquiring an additional 124,468 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Target by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock valued at $1,668,194,000 after acquiring an additional 561,898 shares during the last quarter. Franklin Resources Inc. lifted its position in Target by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock worth $605,507,000 after acquiring an additional 142,937 shares during the period. Finally, Norges Bank acquired a new stake in Target during the 4th quarter worth approximately $587,903,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 value of $1,258,900.00. Following the completion of the sale, the insider owned 45,930 shares in the company, valued at $5,782,127.70. This trade represents a 17.88% 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. 0.13% of the stock is owned by corporate insiders.

Target Stock Up 0.5%

TGT opened at $140.23 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. Target Corporation has a 12 month low of $83.44 and a 12 month high of $142.82. The stock has a market capitalization of $63.69 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.73 and a beta of 1.00. The business has a 50 day simple moving average of $128.00 and a 200-day simple moving average of $116.59.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. The firm had revenue of $25.44 billion for the quarter, compared to analyst estimates of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.Target’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, equities analysts anticipate that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared 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. This is a boost from Target’s previous quarterly dividend of $1.14. 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%. Target’s dividend payout ratio is currently 61.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TGT. Wolfe Research raised Target from a “peer perform” rating to an “outperform” rating and set a $162.00 target price on the stock in a report on Tuesday. Truist Financial increased their price target on Target from $123.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $123.00 price objective on shares of Target in a research note on Friday, May 15th. BNP Paribas Exane raised their target price on shares of Target from $63.00 to $88.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 4th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Target in a research note on Thursday, June 11th. Twelve equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average 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.