55,161 Shares in Target Corporation $TGT Purchased by Munich Reinsurance Co Stock Corp in Munich

Key Points

• Munich Reinsurance disclosed a new stake in Target, buying 55,161 shares worth about $6.69 million in the first quarter.
• Wall Street’s view remains mixed: Target has a consensus Hold rating, though several analysts recently raised price targets and one upgraded the stock to Buy.
• Target reported strong quarterly results and raised its dividend to $1.16 per share quarterly, bringing the annualized yield to about 3.5%.

Munich Reinsurance Co Stock Corp in Munich acquired a new position in Target Corporation (NYSE:TGT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 55,161 shares of the retailer's stock, valued at approximately $6,686,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. WFA of San Diego LLC bought a new stake in shares of Target in the 2nd quarter worth approximately $25,000. Jessup Wealth Management Inc bought a new position in Target during the fourth quarter valued at $25,000. Altshuler Shaham Ltd bought a new position in Target during the fourth quarter valued at $26,000. Capital Advisors Ltd. LLC increased its position in Target by 245.6% in the first quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer's stock worth $33,000 after buying an additional 194 shares during the last quarter. Finally, Global Wealth Strategies & Associates increased its position in Target by 192.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer's stock worth $29,000 after buying an additional 192 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TGT shares. Truist Financial upped their price target on Target from $123.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, May 20th. Weiss Ratings reissued a "hold (c)" rating on shares of Target in a report on Monday, May 4th. Citigroup boosted their price objective on Target from $117.00 to $133.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Target from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Finally, Wells Fargo & Company increased their target price on shares of Target from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Twelve research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $130.64.

Insider Buying and Selling at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the company's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the sale, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.

Target Price Performance

Target stock opened at $132.44 on Thursday. Target Corporation has a one year low of $83.44 and a one year high of $142.82. The business has a fifty day moving average price of $128.16 and a 200-day moving average price of $118.63. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The firm has a market capitalization of $60.15 billion, a P/E ratio of 17.49, a PEG ratio of 2.49 and a beta of 0.98.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.24. The company had revenue of $25.44 billion during the quarter, compared to analysts' expectations of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 earnings per share. 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 8.35 EPS for the current 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 issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a boost from Target's previous quarterly dividend of $1.14. Target's payout ratio is presently 60.24%.

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.

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