Aware Super Pty Ltd as trustee of Aware Super Acquires Shares of 135,156 Target Corporation $TGT

Key Points

• Aware Super initiated a new position in Target during the first quarter, buying 135,156 shares valued at about $16.4 million.
• Target reported strong quarterly results, with earnings of $1.71 per share beating estimates and revenue of $25.44 billion topping forecasts, while revenue rose 6.7% year over year.
• The company also raised its dividend to $1.16 per share quarterly, bringing the annualized payout to $4.64 and a yield of about 3.3%.

Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Target Corporation (NYSE:TGT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 135,156 shares of the retailer's stock, valued at approximately $16,381,000.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after acquiring an additional 3,059 shares in the last quarter. Woodline Partners LP grew 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 during the period. NewEdge Advisors LLC increased its position in Target by 22.8% in the second quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer's stock worth $6,872,000 after buying an additional 12,948 shares in the last quarter. Sei Investments Co. lifted its holdings in Target by 8.0% during the second quarter. Sei Investments Co. now owns 190,860 shares of the retailer's stock valued at $18,832,000 after purchasing an additional 14,195 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Target by 11.0% in the second quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer's stock valued at $26,910,000 after acquiring an additional 27,063 shares in the last quarter. Institutional investors own 79.73% of the company's stock.

Insider Activity

In other news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 45,930 shares in the company, valued at $5,782,127.70. This trade represents a 17.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Target Stock Up 1.2%

TGT stock opened at $139.98 on Friday. The firm's fifty day moving average is $129.05 and its 200 day moving average is $120.29. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. Target Corporation has a one year low of $83.44 and a one year high of $142.82. The firm has a market cap of $63.58 billion, a PE ratio of 18.49, a P/E/G ratio of 2.70 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 firm had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.Target's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, research analysts forecast that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Target's previous quarterly dividend of $1.14. Target's dividend payout ratio is currently 60.24%.

Analyst Ratings Changes

TGT has been the topic of several research reports. Robert W. Baird lifted their target price on Target from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 21st. Citigroup increased their price objective on Target from $117.00 to $133.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Zacks Research raised shares of Target from a "hold" rating to a "strong-buy" rating in a research note on Monday. Freedom Capital lowered shares of Target from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 20th. Finally, Roth Capital reissued a "neutral" rating and set a $114.00 target price on shares of Target in a research report on Friday, May 22nd. One equities research 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 given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $131.96.

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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