Y Intercept Hong Kong Ltd Invests $9.16 Million in Target Corporation $TGT

Y Intercept Hong Kong Ltd acquired a new position in shares of Target Corporation (NYSE:TGT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 93,724 shares of the retailer’s stock, valued at approximately $9,162,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Target by 0.5% during the 4th 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 lifted its position in shares of Target by 2.5% during the 3rd quarter. State Street Corp now owns 37,648,065 shares of the retailer’s stock worth $3,377,031,000 after buying an additional 911,964 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of 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 buying an additional 142,937 shares during the last quarter. Norges Bank purchased a new stake in shares of Target during the 4th quarter worth approximately $587,903,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Target by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,051,151 shares of the retailer’s stock worth $453,050,000 after buying an additional 122,300 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Up 2.0%

TGT stock opened at $135.29 on Friday. The company has a fifty day moving average price of $125.42 and a 200 day moving average price of $113.50. Target Corporation has a 12 month low of $83.44 and a 12 month high of $136.14. The company has a market cap of $61.45 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 2.59 and a beta of 1.00. 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 (NYSE:TGT) last released its quarterly 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 net margin of 3.24% and a return on equity of 22.92%. The firm had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. Target’s revenue for the quarter was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Sell-side analysts expect that Target Corporation will post 8.35 earnings per share for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a yield of 3.4%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is presently 60.24%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TGT shares. Citigroup boosted their price objective on shares of Target from $117.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. UBS Group upped their price target on shares of Target from $130.00 to $144.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Wall Street Zen upgraded shares of Target from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Royal Bank Of Canada upped their price target on shares of Target from $132.00 to $153.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Finally, Oppenheimer upped their price target on shares of Target from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, March 4th. Eleven analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Target presently has an average rating of “Hold” and an average target price of $126.11.

Insider Buying and Selling at Target

In other Target 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 directly owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. The trade was a 17.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 2,053 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total transaction of $240,591.07. Following the completion of the transaction, the chief accounting officer directly owned 12,143 shares in the company, valued at $1,423,038.17. This represents a 14.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.13% of the company’s stock.

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.