Guardian Partners Inc. Acquires New Stake in Target Corporation $TGT

Key Points

• Guardian Partners acquired 9,000 Target shares during the third quarter, valued at approximately $1.41 million. Institutional investors collectively own 79.73% of Target’s outstanding stock.
• Analyst sentiment remains mixed: Target has an average rating of “Hold” and an average price target of $159.33, despite some recent upgrades and higher price objectives.
• Target reported strong quarterly results, with $4.11 in earnings per share and $26.54 billion in revenue, while announcing a quarterly dividend of $1.16 per share, representing a 3.0% annualized yield.

Guardian Partners Inc. purchased a new stake in shares of Target Corporation (NYSE:TGT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,000 shares of the retailer's stock, valued at approximately $1,410,000.

A number of other institutional investors have also recently made changes to their positions in the company. Pension & Wealth Management Advisors Inc. bought a new stake in shares of Target during the 3rd quarter valued at $25,000. Richardson Financial Services Inc. purchased a new stake in Target during the 2nd quarter worth about $26,000. Kimelman & Baird LLC bought a new position in Target in the 2nd quarter worth about $26,000. Archer Investment Corp bought a new position in Target in the 2nd quarter worth about $30,000. Finally, MidFirst Bank purchased a new position in Target during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TGT. BMO Capital Markets upped their price target on Target from $150.00 to $160.00 and gave the company a "market perform" rating in a research report on Thursday, August 20th. Bank of America restated an "underperform" rating and issued a $124.00 price objective (up from $110.00) on shares of Target in a research report on Wednesday, August 12th. Weiss Ratings upgraded shares of Target from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Wolfe Research set a $169.00 price objective on shares of Target in a research note on Monday, August 3rd. Finally, Wall Street Zen raised shares of Target from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have assigned 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 an average target price of $159.33.

Insider Transactions at Target

In related news, CAO Matthew Liegel sold 926 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $163.51, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Melissa Kremer sold 15,500 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $169.96, for a total value of $2,634,380.00. Following the completion of the sale, the insider owned 56,981 shares of the company's stock, valued at $9,684,490.76. The trade was a 21.38% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.13% of the company's stock.

Target Stock Down 1.0%

Shares of NYSE:TGT opened at $152.40 on Thursday. Target Corporation has a 52-week low of $83.44 and a 52-week high of $170.75. The firm has a fifty day moving average of $157.79 and a 200 day moving average of $140.74. The firm has a market capitalization of $69.23 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 2.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%. The business had revenue of $26.54 billion for the quarter, compared to analysts' expectations of $26.13 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. The firm's revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, research analysts anticipate that Target Corporation will post 8.89 EPS for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Wednesday, November 11th will be given a dividend of $1.16 per share. The ex-dividend date is Tuesday, November 10th. This represents a $4.64 annualized dividend and a dividend yield of 3.0%. Target's dividend payout ratio is 48.18%.

Target Company Profile

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping platforms under the Target name. The company sells a broad assortment of products, including apparel and accessories, beauty and household essentials, electronics, toys, groceries, home furnishings, and seasonal merchandise.

Target also offers services designed to support omnichannel shopping, including order pickup, Drive Up, same-day delivery, and shipping through its digital channels.

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