Erste Asset Management GmbH Purchases 77,500 Shares of Target Corporation $TGT

Key Points

• Erste Asset Management GmbH dramatically boosted its Target stake in the fourth quarter, buying 77,500 shares and lifting its holdings to 79,040 shares worth about $7.77 million.
• Other institutional investors also increased exposure to Target, with firms like Vanguard, Norges Bank, and State Street expanding positions; overall, 79.73% of Target’s stock is held by institutions and hedge funds.
• Target’s latest earnings topped expectations, with $1.71 EPS versus the $1.47 estimate and revenue of $25.44 billion, while analysts currently rate the stock a consensus “Hold” with an average target price of $125.93.

Erste Asset Management GmbH increased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 5,032.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,040 shares of the retailer's stock after acquiring an additional 77,500 shares during the period. Erste Asset Management GmbH's holdings in Target were worth $7,768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGT. Vanguard Group Inc. raised its holdings in shares of Target by 12.6% during the third quarter. Vanguard Group Inc. now owns 57,925,898 shares of the retailer's stock worth $5,195,953,000 after acquiring an additional 6,481,560 shares during the period. Norges Bank acquired a new position in shares of Target during the 4th quarter worth about $587,903,000. State Street Corp increased its stake in shares of Target by 2.5% during the 3rd quarter. State Street Corp now owns 37,648,065 shares of the retailer's stock worth $3,377,031,000 after purchasing an additional 911,964 shares during the last quarter. Amundi increased its stake in shares of Target by 38.6% during the 3rd quarter. Amundi now owns 1,913,883 shares of the retailer's stock worth $170,278,000 after purchasing an additional 533,416 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Target by 17.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,162,050 shares of the retailer's stock worth $311,911,000 after buying an additional 461,495 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on TGT shares. Argus set a $150.00 target price on shares of Target in a report on Friday, May 22nd. Mizuho set a $120.00 price objective on shares of Target in a report on Thursday, March 5th. Truist Financial boosted their price objective on shares of Target from $123.00 to $130.00 and gave the company a "hold" rating in a report on Wednesday, May 20th. Freedom Capital downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 20th. Finally, Guggenheim reissued a "buy" rating and issued a $140.00 price objective on shares of Target 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $125.93.

Insider Activity at Target

In other news, CAO Matthew A. Liegel sold 2,053 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total value of $240,591.07. Following the completion of the transaction, the chief accounting officer directly owned 12,143 shares in the company, valued at approximately $1,423,038.17. The trade was a 14.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cara A. Sylvester sold 10,000 shares of the business'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 transaction of $1,258,900.00. Following the completion of the transaction, the insider owned 45,930 shares of the company's stock, valued at $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.13% of the stock is currently owned by insiders.

Target Price Performance

Shares of NYSE:TGT opened at $123.79 on Tuesday. The firm has a 50 day moving average of $124.57 and a 200-day moving average of $112.43. The stock has a market capitalization of $56.22 billion, a PE ratio of 16.35, a PEG ratio of 2.39 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 12 month low of $83.44 and a 12 month high of $133.10.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.47 by $0.24. The company had revenue of $25.44 billion during the quarter, compared to analysts' expectations of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, equities research analysts predict that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 13th were given a $1.14 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $4.56 annualized dividend and a dividend yield of 3.7%. 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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