Cornerstone Planning LLC Invests $1.40 Million in Target Corporation $TGT

Key Points

• Cornerstone Planning LLC bought a new stake in Target during the fourth quarter, acquiring 14,268 shares worth about $1.4 million.
• Institutional ownership in Target remains high, with several other funds also boosting their positions and 79.73% of the stock held by institutional investors and hedge funds.
• Analysts are split on Target: the stock has a consensus rating of “Hold” with an average price target of $126.11, even as some firms recently raised targets or upgraded the shares.

Cornerstone Planning LLC purchased a new stake in Target Corporation (NYSE:TGT - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 14,268 shares of the retailer's stock, valued at approximately $1,402,000.

Several other institutional investors and hedge funds have also made changes to their positions in TGT. Brighton Jones LLC grew its position in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after buying an additional 3,059 shares during the last quarter. Woodline Partners LP lifted its holdings in Target by 39.9% in the first quarter. Woodline Partners LP now owns 38,712 shares of the retailer's stock worth $4,040,000 after acquiring an additional 11,047 shares during the last quarter. NewEdge Advisors LLC lifted its holdings 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 acquiring an additional 12,948 shares during the last quarter. Sei Investments Co. boosted its stake in Target by 8.0% in the second quarter. Sei Investments Co. now owns 190,860 shares of the retailer's stock valued at $18,832,000 after acquiring an additional 14,195 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in 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 during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TGT has been the topic of a number of research reports. Robert W. Baird increased their price target on Target from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 21st. Wall Street Zen upgraded Target from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Telsey Advisory Group upped their price objective on Target from $148.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, May 21st. JPMorgan Chase & Co. increased their target price on Target from $120.00 to $129.00 and gave the stock a "neutral" rating in a research report on Friday, May 15th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Target in a research note on Monday, June 15th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Target presently has an average rating of "Hold" and a consensus price target of $126.11.

Insider Activity

In other news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction on 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 completion of the transaction, the insider owned 45,930 shares of the company's stock, valued at approximately $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 can be accessed through this link. Insiders own 0.13% of the company's stock.

Target Stock Performance

TGT opened at $130.82 on Friday. The business's 50 day moving average is $126.43 and its 200-day moving average is $115.00. The stock has a market cap of $59.42 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 2.55 and a beta of 1.00. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. Target Corporation has a twelve month low of $83.44 and a twelve month high of $137.87.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The business had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The business'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. On average, analysts predict that Target Corporation will post 8.35 earnings per share for the current 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 given a dividend of $1.16 per share. This is a boost from Target's previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a yield of 3.5%. Target's payout ratio is presently 60.24%.

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.

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