291,563 Target Corporation $TGT Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems more than doubled its Target stake by purchasing 291,563 shares in the third quarter, bringing its holdings to 530,663 shares valued at approximately $83.2 million. Institutional investors collectively own 79.73% of Target.
• Analysts maintain a broadly mixed view, with an overall “Hold” rating and an average price target of $159.33; recent target increases included Royal Bank of Canada’s move to $178 and Piper Sandler’s to $153.
• Target reported quarterly EPS of $4.11, well above the $2.35 consensus estimate, while revenue rose 5.3% year over year to $26.54 billion. The company also declared a quarterly dividend of $1.16 per share, representing a 3.0% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 121.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 530,663 shares of the retailer's stock after purchasing an additional 291,563 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.12% of Target worth $83,150,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Washington Trust Advisors Inc. boosted its stake in shares of Target by 28.5% during the 3rd quarter. Washington Trust Advisors Inc. now owns 293 shares of the retailer's stock valued at $46,000 after buying an additional 65 shares during the last quarter. E Fund Management Co. Ltd. increased 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 buying an additional 68 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of Target by 3.5% in the third quarter. Avior Wealth Management LLC now owns 2,173 shares of the retailer's stock worth $341,000 after buying an additional 73 shares during the last quarter. Wynn Capital LLC increased its stake in shares of Target by 0.9% in the second quarter. Wynn Capital LLC now owns 8,455 shares of the retailer's stock worth $1,104,000 after buying an additional 79 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in Target by 0.5% in the third quarter. Pinnacle Associates Ltd. now owns 16,069 shares of the retailer's stock valued at $2,518,000 after acquiring an additional 79 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGT has been the topic of a number of research analyst reports. Robert W. Baird set a $170.00 price objective on shares of Target in a research note on Thursday, August 20th. Piper Sandler boosted their target price on shares of Target from $146.00 to $153.00 and gave the stock a "neutral" rating in a research report on Thursday, August 20th. Weiss Ratings upgraded shares of Target from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Truist Financial increased their price target on shares of Target from $147.00 to $167.00 and gave the stock a "hold" rating in a research report on Thursday, August 20th. Finally, Royal Bank Of Canada lifted their price target on Target from $166.00 to $178.00 and gave the stock an "outperform" rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $159.33.

Insiders Place Their Bets

In other news, insider Melissa Kremer sold 15,500 shares of the firm's 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 transaction, the insider directly owned 56,981 shares in the company, valued at approximately $9,684,490.76. This trade represents a 21.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Matthew 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 completion of the transaction, the chief accounting officer owned 12,266 shares in the company, valued at approximately $2,005,613.66. The trade was a 7.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.13% of the stock is currently owned by corporate insiders.

Target Price Performance

Shares of NYSE TGT opened at $153.70 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $69.83 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 2.81 and a beta of 0.98. Target Corporation has a twelve month low of $83.44 and a twelve month high of $170.75. The business has a 50 day simple moving average of $157.12 and a 200-day simple moving average of $133.81.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $1.76. The firm had revenue of $26.54 billion for the quarter, compared to analysts' expectations of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, equities research analysts expect that Target Corporation will post 8.89 earnings per share for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 11th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, November 10th. Target's dividend payout ratio is 48.18%.

About Target

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping platforms under the Target name. The company sells a broad assortment of products, including apparel and accessories, beauty and household essentials, electronics, toys, groceries, home furnishings, and seasonal merchandise.

Target also offers services designed to support omnichannel shopping, including order pickup, Drive Up, same-day delivery, and shipping through its digital channels.

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