Rakuten Investment Management Inc. Acquires New Holdings in Target Corporation $TGT

Rakuten Investment Management Inc. acquired a new position in shares of Target Corporation (NYSE:TGT) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 81,522 shares of the retailer’s stock, valued at approximately $12,752,000.

Other institutional investors have also recently added to or reduced their stakes in the company. AIA Group Ltd acquired a new position in Target during the 3rd quarter worth about $5,828,000. Provenance Wealth Advisors LLC increased its stake in Target by 1,296.0% during the third quarter. Provenance Wealth Advisors LLC now owns 4,928 shares of the retailer’s stock worth $772,000 after purchasing an additional 4,575 shares during the period. Associated Banc Corp purchased a new stake in Target during the third quarter worth about $2,869,000. Putney Financial Group LLC acquired a new stake in shares of Target during the third quarter worth about $28,000. Finally, First Nebraska Trust Co purchased a new position in shares of Target in the third quarter valued at approximately $563,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE:TGT opened at $163.26 on Thursday. The company has a 50-day simple moving average of $156.68 and a 200-day simple moving average of $134.54. Target Corporation has a one year low of $83.44 and a one year high of $170.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99. The stock has a market capitalization of $74.17 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 2.86 and a beta of 0.94.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%. The company had revenue of $26.54 billion during the quarter, compared to analysts’ expectations of $26.13 billion. During the same period last year, the firm earned $2.05 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, analysts predict that Target Corporation will post 8.91 EPS for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 11th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $4.64 annualized dividend and a dividend yield of 2.8%. Target’s dividend payout ratio (DPR) is currently 48.18%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TGT. Morgan Stanley restated an “overweight” rating and issued a $150.00 price objective (up from $145.00) on shares of Target in a report on Thursday, August 20th. Wolfe Research set a $169.00 price objective on Target in a research report on Monday, August 3rd. Guggenheim lifted their target price on Target from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Royal Bank Of Canada boosted their target price on shares of Target from $166.00 to $178.00 and gave the stock an “outperform” rating in a research note on Thursday, August 20th. Finally, Gordon Haskett decreased their price objective on shares of Target from $200.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Target currently has a consensus rating of “Hold” and a consensus target price of $161.50.

Insider Buying and Selling at Target

In other Target news, CAO Matthew Liegel sold 926 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the completion of the transaction, the chief accounting officer owned 12,266 shares in the company, valued at approximately $2,005,613.66. This represents a 7.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Melissa Kremer sold 15,500 shares of the firm’s stock in a transaction 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 completion of the sale, the insider owned 56,981 shares of the company’s stock, valued at $9,684,490.76. This trade represents a 21.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.13% of the company’s stock.

Target Company Profile

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping platforms under the Target name. The company sells a broad assortment of products, including apparel and accessories, beauty and household essentials, electronics, toys, groceries, home furnishings, and seasonal merchandise.

Target also offers services designed to support omnichannel shopping, including order pickup, Drive Up, same-day delivery, and shipping through its digital channels.