Artemis Investment Management LLP Purchases New Holdings in Target Corporation $TGT

Key Points

• Artemis Investment Management bought 77,087 Target shares worth approximately $12.1 million during the third quarter. Institutional investors collectively own 79.73% of Target’s outstanding stock.
• Target reported quarterly earnings of $4.11 per share, significantly above the $2.35 analyst consensus, while revenue rose 5.3% year over year to $26.54 billion. Analysts maintain a consensus “Hold” rating with an average price target of $159.52.
• Target declared a quarterly dividend of $1.16 per share, equivalent to $4.64 annually and a 3.0% yield; the dividend is payable December 1 to shareholders of record as of November 11.

Artemis Investment Management LLP purchased a new stake in Target Corporation (NYSE:TGT - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 77,087 shares of the retailer's stock, valued at approximately $12,079,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Richardson Financial Services Inc. bought a new stake in shares of Target during the 2nd quarter worth approximately $26,000. Kimelman & Baird LLC acquired a new position in Target during the second quarter worth $26,000. Archer Investment Corp bought a new stake in Target during the second quarter worth $30,000. MidFirst Bank bought a new stake in Target during the fourth quarter worth $31,000. Finally, Capital Advisors Ltd. LLC raised its position in Target by 245.6% during the first quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer's stock worth $33,000 after acquiring an additional 194 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TGT shares. TD Cowen upped their target price on shares of Target from $155.00 to $160.00 and gave the company a "hold" rating in a report on Thursday, August 20th. Roth Capital reiterated a "neutral" rating and set a $142.00 price target on shares of Target in a report on Thursday, August 20th. BMO Capital Markets boosted their price target on Target from $150.00 to $160.00 and gave the stock a "market perform" rating in a research report on Thursday, August 20th. Jefferies Financial Group upped their price objective on Target from $161.00 to $177.00 and gave the company a "buy" rating in a research note on Friday, August 14th. Finally, JPMorgan Chase & Co. raised their price objective on Target from $129.00 to $157.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Eleven investment 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 has an average rating of "Hold" and a consensus target price of $159.52.

Target Stock Performance

Shares of NYSE TGT opened at $154.99 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36. The stock's fifty day moving average price is $156.99 and its two-hundred day moving average price is $138.48. Target Corporation has a one year low of $83.44 and a one year high of $170.75. The firm has a market cap of $70.41 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 2.80 and a beta of 0.98.

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

Target Dividend Announcement

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

Insider Buying and Selling at Target

In other news, insider Melissa K. Kremer sold 15,500 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the sale, the insider directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 926 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $163.51, for a total value of $151,410.26. Following the completion of the transaction, the chief accounting officer owned 12,266 shares in the company, valued at $2,005,613.66. The trade was a 7.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is owned by insiders.

Target Profile

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

Target offers private-label brands alongside national brands and provides services such as Order Pickup, Drive Up and same-day delivery through Shipt.

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