Atlas Wealth LLC Acquires Shares of 7,619 Target Corporation $TGT

Key Points

• Atlas Wealth LLC initiated a new position in Target during the first quarter, buying 7,619 shares worth about $923,000.
• Target reported stronger-than-expected quarterly results, with EPS of $1.71 versus the $1.47 consensus and revenue of $25.44 billion, up 6.7% year over year.
• The company also raised its quarterly dividend to $1.16 per share, while analysts currently view the stock as a Hold with a consensus price target of $131.96.

Atlas Wealth LLC purchased a new position in shares of Target Corporation (NYSE:TGT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,619 shares of the retailer's stock, valued at approximately $923,000.

A number of other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC raised its position in Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after purchasing an additional 3,059 shares during the period. Woodline Partners LP grew its holdings in shares of Target by 39.9% in the first quarter. Woodline Partners LP now owns 38,712 shares of the retailer's stock worth $4,040,000 after purchasing an additional 11,047 shares during the last quarter. NewEdge Advisors LLC raised its holdings in 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 buying an additional 12,948 shares during the last quarter. Sei Investments Co. grew its holdings in Target by 8.0% in the 2nd quarter. Sei Investments Co. now owns 190,860 shares of the retailer's stock worth $18,832,000 after acquiring an additional 14,195 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in Target by 11.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer's stock worth $26,910,000 after acquiring an additional 27,063 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

Shares of TGT opened at $139.93 on Friday. Target Corporation has a 1-year low of $83.44 and a 1-year high of $144.40. The firm has a market capitalization of $63.55 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 2.74 and a beta of 0.98. 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 company's fifty day moving average price is $129.35 and its 200-day moving average price is $120.43.

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, beating the consensus estimate 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 analysts' expectations of $24.66 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. The company's revenue for the quarter was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, equities research analysts predict that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from Target's previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. Target's dividend payout ratio (DPR) is currently 60.24%.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of research analyst reports. Wolfe Research raised shares of Target from a "peer perform" rating to an "outperform" rating and set a $162.00 price objective on the stock in a research report on Tuesday, June 23rd. Telsey Advisory Group lifted their target price on shares of Target from $148.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, May 21st. Roth Capital reiterated a "neutral" rating and set a $114.00 price target on shares of Target in a research report on Friday, May 22nd. The Goldman Sachs Group restated a "neutral" rating on shares of Target in a report on Thursday, June 11th. Finally, Evercore set a $130.00 target price on Target in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $131.96.

Insider Activity

In other news, insider Cara A. Sylvester sold 10,000 shares of the business's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the transaction, the insider owned 45,930 shares of the company's stock, valued at approximately $5,782,127.70. The trade was a 17.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by company insiders.

Target 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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