Lazard Asset Management LLC Acquires 180,682 Shares of Target Corporation $TGT

Lazard Asset Management LLC raised its stake in shares of Target Corporation (NYSE:TGT) by 55.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 504,125 shares of the retailer’s stock after purchasing an additional 180,682 shares during the period. Lazard Asset Management LLC owned approximately 0.11% of Target worth $61,100,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Winning Points Advisors LLC bought a new position in shares of Target during the 4th quarter worth approximately $611,000. Franklin Resources Inc. grew its holdings in shares of Target by 2.4% in the fourth quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock valued at $605,507,000 after acquiring an additional 142,937 shares in the last quarter. Bogart Wealth LLC boosted its position in Target by 41.8% in the first quarter. Bogart Wealth LLC now owns 111,001 shares of the retailer’s stock worth $13,453,000 after purchasing an additional 32,746 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in Target during the first quarter worth about $6,686,000. Finally, Oak Thistle LLC purchased a new position in Target in the fourth quarter valued at approximately $1,149,000. 79.73% of the stock is owned by institutional investors.

Target Stock Up 2.7%

Shares of Target stock opened at $140.47 on Tuesday. The company’s 50 day moving average price is $131.31 and its 200-day moving average price is $122.19. Target Corporation has a 52-week low of $83.44 and a 52-week high of $144.40. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. The stock has a market capitalization of $63.80 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 2.67 and a beta of 0.98.

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

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 3.3%. This is an increase from Target’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. Target’s dividend payout ratio (DPR) is presently 60.24%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TGT shares. Wall Street Zen raised Target from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Roth Capital restated a “neutral” rating and issued a $114.00 price objective on shares of Target in a research report on Friday, May 22nd. Guggenheim increased their price objective on Target from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. The Goldman Sachs Group restated a “neutral” rating on shares of Target in a research report on Thursday, June 11th. Finally, Argus set a $150.00 target price on Target in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Target has an average rating of “Hold” and an average price target of $132.15.

Insider Buying and Selling

In other 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 directly owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

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.