Baker Avenue Asset Management LP Purchases 21,584 Shares of Target Corporation $TGT

Key Points

• Baker Avenue Asset Management increased its Target stake by 383.7% in the fourth quarter, buying 21,584 additional shares and lifting its holding to 27,209 shares valued at about $2.66 million.
• Target reported better-than-expected quarterly results, posting EPS of $1.71 versus the $1.47 estimate on revenue of $25.44 billion, up 6.7% year over year. The company also provided FY2026 EPS guidance of 7.5 to 8.5.
• Analyst sentiment remains mixed but generally cautious: Target has an average rating of "Hold" with an average price target of $125.93, while several firms recently raised their targets despite some downgrades.

Baker Avenue Asset Management LP raised its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 383.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 27,209 shares of the retailer's stock after purchasing an additional 21,584 shares during the period. Baker Avenue Asset Management LP's holdings in Target were worth $2,660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. WFA of San Diego LLC purchased a new position in Target in the second quarter valued at about $25,000. Global Wealth Strategies & Associates grew its holdings in shares of Target by 192.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer's stock valued at $29,000 after buying an additional 192 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Target during the 4th quarter valued at about $30,000. Key Financial Inc boosted its position in Target by 77.4% in the third quarter. Key Financial Inc now owns 346 shares of the retailer's stock valued at $31,000 after buying an additional 151 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings in shares of Target by 168.9% in the 4th quarter. True Wealth Design LLC now owns 355 shares of the retailer's stock valued at $35,000 after acquiring an additional 223 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TGT shares. Oppenheimer raised their target price on shares of Target from $130.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, March 4th. Citigroup increased their price target on Target from $117.00 to $133.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. The Goldman Sachs Group lifted their price objective on Target from $112.00 to $127.00 and gave the company a "neutral" rating in a research note on Thursday, May 21st. Freedom Capital cut Target from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 20th. Finally, Truist Financial raised their target price on Target from $123.00 to $130.00 and gave the stock a "hold" rating in a report on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Target has an average rating of "Hold" and an average target price of $125.93.

Target Price Performance

Target stock opened at $128.59 on Friday. The stock has a market capitalization of $58.40 billion, a P/E ratio of 16.99, a P/E/G ratio of 2.51 and a beta of 1.01. The company's fifty day moving average price is $123.31 and its 200 day moving average price is $110.76. 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 1 year low of $83.44 and a 1 year high of $133.10.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.24. The firm had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, equities research analysts anticipate that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Wednesday, May 13th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, May 13th. Target's dividend payout ratio is presently 60.24%.

Insider Transactions at Target

In other news, CAO Matthew A. Liegel sold 2,053 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $117.19, for a total value of $240,591.07. Following the transaction, the chief accounting officer owned 12,143 shares of the company's stock, valued at $1,423,038.17. This represents a 14.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.