Eurizon Capital SGR S.p.A. Buys 309,783 Shares of Target Corporation $TGT

Key Points

• Eurizon Capital increased its Target stake by 28.7% in the third quarter, buying 309,783 shares to hold 1,387,541 shares, valued at about $217.4 million.
• Target beat quarterly earnings expectations, reporting EPS of $4.11 versus $2.35 expected and revenue of $26.54 billion, up 5.3% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $162.37. Target also announced a quarterly dividend of $1.16 per share, equivalent to a 2.9% yield.

Eurizon Capital SGR S.p.A. raised its stake in Target Corporation (NYSE:TGT - Free Report) by 28.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,387,541 shares of the retailer's stock after buying an additional 309,783 shares during the period. Eurizon Capital SGR S.p.A. owned about 0.31% of Target worth $217,412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Pension & Wealth Management Advisors Inc. bought a new position in shares of Target during the third quarter worth about $25,000. Putney Financial Group LLC acquired a new position in shares of Target in the third quarter worth approximately $28,000. Kimelman & Baird LLC bought a new stake in Target in the second quarter valued at approximately $26,000. Richardson Financial Services Inc. bought a new stake in Target in the second quarter valued at approximately $26,000. Finally, Quest 10 Wealth Builders Inc. bought a new stake in Target in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Sanford C. Bernstein reissued a "market perform" rating and set a $154.00 target price (up from $135.00) on shares of Target in a research report on Thursday, August 20th. Citigroup boosted their price target on shares of Target from $148.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, August 20th. Weiss Ratings raised shares of Target from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of Target from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 12th. Finally, Robert W. Baird set a $170.00 target price on shares of Target in a research note on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Target currently has a consensus rating of "Hold" and a consensus price target of $162.37.

Target Stock Down 1.1%

Shares of NYSE:TGT opened at $160.91 on Friday. Target Corporation has a 1 year low of $83.44 and a 1 year high of $170.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36. The business's 50-day moving average is $156.41 and its 200-day moving average is $136.16. The company has a market capitalization of $73.10 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 2.90 and a beta of 0.94.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, topping the consensus estimate of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The company had revenue of $26.54 billion during the quarter, compared to the consensus estimate of $26.13 billion. During the same quarter last year, the firm posted $2.05 EPS. The company's quarterly revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Equities research analysts predict that Target Corporation will post 8.91 earnings per share for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 11th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, November 10th. Target's dividend payout ratio (DPR) is currently 48.18%.

Insiders Place Their Bets

In other Target news, CAO Matthew A. Liegel sold 926 shares of the firm's 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 transaction, the chief accounting officer directly owned 12,266 shares of the company's stock, valued at approximately $2,005,613.66. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Melissa K. Kremer sold 15,500 shares of Target stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the transaction, the insider owned 56,981 shares of the company's stock, valued at $9,684,490.76. This represents a 21.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.13% of the stock is owned by company insiders.

About Target

Target Corporation is a U.S. general merchandise retailer that sells products through its stores and digital channels. Its assortment includes apparel and accessories, beauty products, home goods, groceries, electronics, toys, and household essentials, along with merchandise from national brands and Target-owned brands. The company also offers services such as in-store and curbside order pickup and same-day delivery in eligible areas. Target serves customers across the United States. The company traces its history to the Dayton Dry Goods Company, founded in Minneapolis in 1902.

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