Mitsubishi UFJ Asset Management Co. Ltd. Acquires New Holdings in Target Corporation $TGT

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Target Corporation (NYSE:TGT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,154,463 shares of the retailer’s stock, valued at approximately $150,784,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.25% of Target as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in TGT. Vanguard Group Inc. grew its stake in 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 purchasing an additional 286,499 shares during the period. State Street Corp increased 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 purchasing an additional 124,468 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Target by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock worth $1,668,194,000 after acquiring an additional 561,898 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Target in the second quarter worth approximately $831,466,000. Finally, Franklin Resources Inc. lifted its stake in Target by 2.4% during the 4th 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. Institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was 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 approximately $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

Target Trading Down 2.3%

Shares of TGT opened at $150.94 on Tuesday. 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 firm has a market cap of $68.56 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 2.51 and a beta of 0.96. The firm has a 50 day moving average price of $138.56 and a 200-day moving average price of $126.62. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $156.47.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (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 business had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, equities research analysts forecast that Target Corporation will post 8.4 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 given a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. This is a positive change from Target’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.1%. Target’s dividend payout ratio is presently 61.29%.

Analyst Ratings Changes

Several equities analysts have commented on TGT shares. Freedom Capital cut shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. DA Davidson increased their price objective on Target from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday. Truist Financial increased their target price on shares of Target from $130.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday. Wall Street Zen upgraded Target from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Robert W. Baird upped their target price on shares of Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $143.85.

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.