BNP Paribas Purchases 63,480 Shares of Target Corporation $TGT

Key Points

• BNP Paribas increased its Target stake by 142% during the second quarter, purchasing 63,480 additional shares and bringing its holdings to 108,192 shares valued at approximately $14.1 million. Institutional investors collectively own 79.73% of Target.
• Target reported quarterly EPS of $4.11, well above the $2.35 analyst consensus, while revenue rose 5.3% year over year to $26.54 billion. The company also raised its quarterly dividend from $1.14 to $1.16 per share.
• Despite several analysts raising their price targets, Target carries a consensus “Hold” rating and an average price target of $159.52; the stock recently opened at $163.14. Two company insiders also sold shares during the period.

BNP Paribas boosted its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 142.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,192 shares of the retailer's stock after purchasing an additional 63,480 shares during the quarter. BNP Paribas' holdings in Target were worth $14,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Field & Main Bank increased its position in shares of Target by 47.5% during the second quarter. Field & Main Bank now owns 295 shares of the retailer's stock valued at $39,000 after purchasing an additional 95 shares during the period. Prosperitas Financial LLC bought a new position in Target in the second quarter valued at approximately $259,000. Wellington Management Group LLP boosted its stake in Target by 17.1% in the second quarter. Wellington Management Group LLP now owns 200,413 shares of the retailer's stock valued at $26,176,000 after acquiring an additional 29,204 shares during the last quarter. Archer Investment Corp acquired a new stake in Target during the 2nd quarter worth $30,000. Finally, Beacon Pointe Advisors LLC raised its position in shares of Target by 3.4% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 47,540 shares of the retailer's stock valued at $6,209,000 after acquiring an additional 1,549 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Insiders Place Their Bets

In related news, insider Melissa K. Kremer sold 15,500 shares of the business's 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 owned 56,981 shares in the company, valued at $9,684,490.76. The trade was a 21.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 926 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $163.51, for a total value of $151,410.26. Following the completion of the sale, the chief accounting officer owned 12,266 shares of the company's stock, valued at $2,005,613.66. The trade was a 7.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.13% of the company's stock.

Target Stock Performance

Shares of TGT stock opened at $163.14 on Friday. Target Corporation has a 52 week low of $83.44 and a 52 week high of $170.75. The company has a 50-day simple moving average of $144.21 and a 200 day simple moving average of $129.86. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99. The company has a market capitalization of $74.10 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 3.09 and a beta of 0.97.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $1.76. The firm had revenue of $26.54 billion for the quarter, compared to analyst estimates of $26.13 billion. Target had a net margin of 4.08% and a return on equity of 23.23%. The business's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.05 EPS. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, sell-side analysts predict that Target Corporation will post 8.84 earnings per share 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 paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, August 12th. This is an increase from Target's previous quarterly dividend of $1.14. Target's dividend payout ratio is 48.18%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TGT shares. Roth Capital reissued a "neutral" rating and issued a $142.00 price target on shares of Target in a research note on Thursday, August 20th. Telsey Advisory Group increased their target price on Target from $170.00 to $182.00 and gave the stock an "outperform" rating in a research note on Thursday, August 20th. TD Cowen raised their target price on shares of Target from $155.00 to $160.00 and gave the stock a "hold" rating in a report on Thursday, August 20th. Morgan Stanley reiterated an "overweight" rating on shares of Target in a report on Thursday, August 20th. Finally, BMO Capital Markets increased their price objective on shares of Target from $150.00 to $160.00 and gave the stock a "market perform" rating in a research report on Thursday, August 20th. Eleven analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Target has a consensus rating of "Hold" and a consensus target price of $159.52.

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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