California Public Employees Retirement System Boosts Stock Holdings in Target Corporation $TGT

Key Points

• California Public Employees Retirement System increased its Target stake by 3.6% in the first quarter, adding 30,525 shares to bring its total holdings to 873,454 shares worth about $105.9 million.
• Target’s latest quarterly results came in above expectations, 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 from $1.14, implying a 3.3% yield, while analysts currently rate the stock a consensus Hold with a target price of $131.96.

California Public Employees Retirement System lifted its position in shares of Target Corporation (NYSE:TGT - Free Report) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 873,454 shares of the retailer's stock after acquiring an additional 30,525 shares during the period. California Public Employees Retirement System owned approximately 0.19% of Target worth $105,863,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of 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 in the last quarter. Woodline Partners LP lifted its holdings in shares of Target by 39.9% during the first quarter. Woodline Partners LP now owns 38,712 shares of the retailer's stock valued at $4,040,000 after purchasing an additional 11,047 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Target by 22.8% during the second 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. boosted its position in shares of 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 buying an additional 14,195 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Target by 11.0% during 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 buying an additional 27,063 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on TGT. Wall Street Zen raised shares of Target from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Robert W. Baird lifted their target price on shares of Target from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 21st. Freedom Capital lowered shares of Target from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 20th. Citigroup boosted their target price on shares of Target from $117.00 to $133.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $123.00 price target on shares of Target in a report on Friday, May 15th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Target currently has a consensus rating of "Hold" and a consensus target price of $131.96.

Target Stock Performance

NYSE:TGT opened at $139.93 on Friday. The stock has a 50-day simple moving average of $129.35 and a two-hundred day simple moving average of $120.43. Target Corporation has a 52-week low of $83.44 and a 52-week high of $144.40. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. The firm has a market capitalization of $63.55 billion, a PE ratio of 18.48, a P/E/G ratio of 2.73 and a beta of 0.98.

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

Target Increases Dividend

The company 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 an increase from Target's previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 12th. Target's payout ratio is presently 61.29%.

Insiders Place Their Bets

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the transaction, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by corporate insiders.

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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