Target Corporation $TGT Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System raised its position in shares of Target Corporation (NYSE:TGT) by 13,417.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,340,014 shares of the retailer’s stock after purchasing an additional 90,664,304 shares during the quarter. California State Teachers Retirement System owned 20.11% of Target worth $11,929,919,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TGT. E Fund Management Co. Ltd. raised its stake in shares of Target by 4.1% in the second quarter. E Fund Management Co. Ltd. now owns 1,747 shares of the retailer’s stock worth $228,000 after purchasing an additional 68 shares during the last quarter. Wynn Capital LLC boosted its position in Target by 0.9% in the second quarter. Wynn Capital LLC now owns 8,455 shares of the retailer’s stock valued at $1,104,000 after buying an additional 79 shares during the last quarter. Whipplewood Advisors LLC boosted its position in Target by 16.0% in the first quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer’s stock valued at $70,000 after buying an additional 80 shares during the last quarter. Prosperity Consulting Group LLC increased its holdings in Target by 3.4% in the 1st quarter. Prosperity Consulting Group LLC now owns 2,474 shares of the retailer’s stock worth $300,000 after buying an additional 81 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Target by 3.4% in the 2nd quarter. Versant Capital Management Inc now owns 2,478 shares of the retailer’s stock worth $324,000 after buying an additional 82 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Down 1.1%

Target stock opened at $162.68 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80. Target Corporation has a 12 month low of $83.44 and a 12 month high of $170.75. The stock’s 50 day simple moving average is $148.09 and its two-hundred day simple moving average is $132.35. The firm has a market cap of $73.91 billion, a PE ratio of 16.89, a P/E/G ratio of 3.06 and a beta of 0.99.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, beating the consensus estimate of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The firm had revenue of $26.54 billion during the quarter, compared to analyst estimates of $26.13 billion. During the same period in the previous year, the firm earned $2.05 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Analysts anticipate that Target Corporation will post 8.85 earnings per share for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th were issued a $1.16 dividend. The ex-dividend date of this dividend was 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 yield of 2.9%. Target’s dividend payout ratio is presently 48.18%.

Insider Transactions at Target

In other news, CAO Matthew A. Liegel sold 926 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $163.51, for a total transaction of $151,410.26. Following the sale, the chief accounting officer directly owned 12,266 shares in the company, valued at $2,005,613.66. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Melissa K. Kremer sold 15,500 shares of Target stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $169.96, for a total value of $2,634,380.00. Following the completion of the transaction, the insider owned 56,981 shares of the company’s stock, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on TGT. Sanford C. Bernstein restated a “market perform” rating and set a $154.00 price objective on shares of Target in a research note on Thursday, August 20th. Zacks Research lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Guggenheim raised their target price on shares of Target from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Oppenheimer boosted their target price on shares of Target from $140.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, DA Davidson upped their price target on shares of Target from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Eleven research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $159.52.

Target Profile

Target Corporation is a general merchandise retailer that operates stores and digital shopping channels across the United States. Its assortment includes apparel and accessories, beauty products, home furnishings and décor, electronics, toys, sporting goods, household essentials, groceries and other everyday merchandise.

Target offers a combination of in-store and digital services, including order pickup, Drive Up and same-day delivery through Shipt. The company also develops and sells a broad portfolio of owned brands, while offering national-brand products and merchandise through a range of seasonal and specialty categories.

The company traces its history to the Dayton Company, founded in Minneapolis in 1902.