Bayban Acquires New Position in Target Corporation $TGT

Key Points

• Bayban disclosed a new fourth-quarter stake in Target, buying 10,617 shares worth about $1.04 million. The position now represents 0.9% of Bayban’s portfolio and is its 20th-largest holding.
• Target’s stock continues to draw mixed analyst views: the consensus rating is Hold, with an average price target of $126.11. Analysts currently split between 11 Buy ratings, 19 Hold ratings, and 3 Sell ratings.
• The retailer reported better-than-expected quarterly results, with EPS of $1.71 on revenue of $25.44 billion, and it raised its quarterly dividend to $1.16 per share from $1.14. An insider also sold 10,000 shares in late May.

Bayban acquired a new stake in shares of Target Corporation (NYSE:TGT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,617 shares of the retailer's stock, valued at approximately $1,038,000. Target makes up 0.9% of Bayban's investment portfolio, making the stock its 20th biggest holding.

Several other large investors have also bought and sold shares of TGT. WFA of San Diego LLC bought a new position in Target in the 2nd quarter valued at approximately $25,000. Jessup Wealth Management Inc bought a new stake in shares of Target during the 4th quarter valued at about $25,000. Altshuler Shaham Ltd bought a new position in shares of Target in the 4th quarter worth approximately $26,000. Global Wealth Strategies & Associates lifted its stake in shares of Target by 192.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer's stock worth $29,000 after purchasing an additional 192 shares during the period. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Target in the fourth quarter worth approximately $30,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TGT has been the subject of several recent research reports. KeyCorp restated a "sector weight" rating on shares of Target in a research report on Thursday, May 21st. Bank of America started coverage on shares of Target in a research report on Friday, February 27th. They issued an "underperform" rating and a $103.00 price target on the stock. Freedom Capital downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 20th. Oppenheimer upped their price objective on Target from $130.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 4th. Finally, Piper Sandler restated a "neutral" rating on shares of Target in a research note on Friday, June 12th. 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $126.11.

Insider Buying and Selling

In other news, insider Cara A. Sylvester sold 10,000 shares of the business's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the transaction, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Target Stock Performance

TGT opened at $130.82 on Friday. The firm has a market cap of $59.42 billion, a P/E ratio of 17.28, a PEG ratio of 2.55 and a beta of 1.00. Target Corporation has a 1-year low of $83.44 and a 1-year high of $137.87. The company has a 50 day simple moving average of $126.43 and a two-hundred day simple moving average of $115.00. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30.

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

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. This is a boost from Target's previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 12th. Target's payout ratio is 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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