Arkfeld Wealth Strategies L.L.C. Purchases New Position in Target Corporation $TGT

Key Points

• Arkfeld Wealth Strategies opened a new position in Target, buying 13,164 shares worth about $1.62 million in the first quarter.
• Target reported strong quarterly results, with EPS of $1.71 beating estimates and revenue of $25.44 billion, while also raising full-year guidance to 7.50-8.50 EPS.
• The company boosted its quarterly dividend to $1.16 per share from $1.14, implying an annualized yield of about 3.6%.

Arkfeld Wealth Strategies L.L.C. bought a new position in Target Corporation (NYSE:TGT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,164 shares of the retailer's stock, valued at approximately $1,618,000.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after buying an additional 3,059 shares during the last quarter. Woodline Partners LP raised its position in shares of Target by 39.9% during the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer's stock valued at $4,040,000 after acquiring an additional 11,047 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Target by 22.8% during the 2nd quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer's stock valued at $6,872,000 after acquiring an additional 12,948 shares in the last quarter. Sei Investments Co. lifted its stake in Target by 8.0% during the second quarter. Sei Investments Co. now owns 190,860 shares of the retailer's stock worth $18,832,000 after purchasing an additional 14,195 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Target by 11.0% during the second quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer's stock worth $26,910,000 after purchasing an additional 27,063 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction dated Friday, May 29th. The shares were 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 owned 45,930 shares in the company, valued at $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of research reports. Robert W. Baird increased 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. Argus set a $150.00 price target on shares of Target in a report on Friday, May 22nd. Wells Fargo & Company boosted their price objective on shares of Target from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, May 12th. Citigroup increased their price objective on shares of Target from $117.00 to $133.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Finally, Evercore set a $130.00 target price on shares of Target in a report on Monday, May 18th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Target has a consensus rating of "Hold" and a consensus price target of $126.11.

Target Price Performance

NYSE TGT opened at $129.84 on Tuesday. The company has a 50-day moving average price of $126.54 and a two-hundred day moving average price of $115.44. Target Corporation has a 52 week low of $83.44 and a 52 week high of $137.87. The stock has a market cap of $58.97 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 2.55 and a beta of 1.00. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.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 company posted $1.30 EPS. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Analysts forecast that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. This is an increase from Target's previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, August 12th. Target's dividend payout ratio (DPR) is presently 60.24%.

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.

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