Target Corporation $TGT Shares Acquired by Summit Securities Group LLC

Summit Securities Group LLC raised its stake in Target Corporation (NYSE:TGT) by 308.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,074 shares of the retailer’s stock after acquiring an additional 6,099 shares during the period. Summit Securities Group LLC’s holdings in Target were worth $979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in 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 purchasing an additional 286,499 shares during the last quarter. State Street Corp grew its position in Target by 0.3% in the 4th quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock valued at $3,692,265,000 after buying an additional 124,468 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Target by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock valued at $1,668,194,000 after buying an additional 561,898 shares during the period. Franklin Resources Inc. increased its stake in Target by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock valued at $605,507,000 after buying an additional 142,937 shares during the period. Finally, Norges Bank purchased a new position in Target during the 4th quarter worth $587,903,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Trading Down 0.2%

NYSE:TGT opened at $132.11 on Friday. Target Corporation has a 1 year low of $83.44 and a 1 year high of $142.82. 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 fifty day moving average price of $128.26 and a two-hundred day moving average price of $118.87. The stock has a market capitalization of $60.00 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.59 and a beta of 0.98.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping 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 company had revenue of $25.44 billion for the quarter, compared to analyst estimates of $24.66 billion. During the same period in the previous year, the firm earned $1.30 EPS. The business’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, sell-side analysts anticipate that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The business 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. The ex-dividend date is Wednesday, August 12th. This is an increase from Target’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 3.5%. Target’s dividend payout ratio (DPR) is currently 60.24%.

Insiders Place Their Bets

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm’s 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 transaction, the insider directly owned 45,930 shares of the company’s stock, valued at $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 available at this hyperlink. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TGT. KeyCorp restated a “sector weight” rating on shares of Target in a research note on Thursday, May 21st. Piper Sandler reiterated a “neutral” rating on shares of Target in a research note on Friday, June 12th. Robert W. Baird increased their price target on shares of Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Freedom Capital downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Target in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Target presently has a consensus rating of “Hold” and an average price target of $130.64.

Target Company 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.