Flputnam Investment Management Co. Buys 29,282 Shares of Target Corporation $TGT

Flputnam Investment Management Co. boosted its stake in shares of Target Corporation (NYSE:TGT) by 470.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,512 shares of the retailer’s stock after purchasing an additional 29,282 shares during the quarter. Flputnam Investment Management Co.’s holdings in Target were worth $4,638,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. E Fund Management Co. Ltd. grew its stake in Target by 4.1% in the 2nd quarter. E Fund Management Co. Ltd. now owns 1,747 shares of the retailer’s stock valued at $228,000 after buying an additional 68 shares during the last quarter. Wynn Capital LLC lifted its position in Target by 0.9% during the 2nd quarter. Wynn Capital LLC now owns 8,455 shares of the retailer’s stock worth $1,104,000 after acquiring an additional 79 shares during the last quarter. Whipplewood Advisors LLC boosted its holdings in Target by 16.0% during the first quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer’s stock valued at $70,000 after acquiring an additional 80 shares during the period. Prosperity Consulting Group LLC boosted its holdings in Target by 3.4% during the first quarter. Prosperity Consulting Group LLC now owns 2,474 shares of the retailer’s stock valued at $300,000 after acquiring an additional 81 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Target by 3.4% in the second quarter. Versant Capital Management Inc now owns 2,478 shares of the retailer’s stock valued at $324,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Target stock opened at $163.14 on Monday. The firm has a market capitalization of $74.10 billion, a P/E ratio of 16.94, a P/E/G ratio of 3.04 and a beta of 0.96. The stock has a fifty day moving average price of $144.21 and a two-hundred day moving average price of $129.96. Target Corporation has a 52-week low of $83.44 and a 52-week high of $170.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The company had revenue of $26.54 billion during the quarter, compared to analysts’ expectations of $26.13 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. Target’s quarterly revenue was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, analysts anticipate that Target Corporation will post 8.84 EPS for the current fiscal 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 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, August 12th. This is a boost from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is currently 48.18%.

Analysts Set New Price Targets

Several research analysts have commented on TGT shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Target in a research report on Thursday, August 20th. Jefferies Financial Group raised their price objective on shares of Target from $161.00 to $177.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Target in a research report on Friday, July 31st. UBS Group upped their target price on shares of Target from $166.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Deutsche Bank Aktiengesellschaft set a $150.00 price target on shares of Target in a report on Thursday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $159.52.

Insider Buying and Selling

In related news, CAO Matthew A. Liegel sold 926 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $163.51, for a total value of $151,410.26. Following the sale, the chief accounting officer directly owned 12,266 shares in the company, valued at $2,005,613.66. This trade represents a 7.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Melissa K. Kremer sold 15,500 shares of Target stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the transaction, the insider directly owned 56,981 shares in the company, valued at $9,684,490.76. The trade was a 21.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by company insiders.

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.