Harvest Investment Advisors LLC Makes New Investment in Target Corporation $TGT

Key Points

• Harvest Investment Advisors opened a new position in Target during the fourth quarter, buying 21,359 shares worth about $2.09 million. The stake represents 1.2% of its portfolio and is Target’s 27th-largest holding.
• Target recently posted solid quarterly results, with earnings per share of $1.71 and revenue of $25.44 billion, both above Wall Street estimates. The company also raised its full-year guidance to 7.50–8.50 EPS.
• Target increased its dividend to $1.16 per share quarterly, or $4.64 annualized, for a yield of about 3.5%. Meanwhile, analysts remain mixed, with the stock carrying an average Hold rating and a consensus price target of $126.11.

Harvest Investment Advisors LLC purchased a new position in shares of Target Corporation (NYSE:TGT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,359 shares of the retailer's stock, valued at approximately $2,088,000. Target accounts for 1.2% of Harvest Investment Advisors LLC's investment portfolio, making the stock its 27th biggest position.

Other large investors also recently bought and sold shares of the company. First Trust Advisors LP boosted its position in shares of Target by 10.9% in the 3rd quarter. First Trust Advisors LP now owns 1,267,577 shares of the retailer's stock valued at $113,702,000 after purchasing an additional 124,371 shares during the period. Winning Points Advisors LLC acquired a new stake in shares of Target in the 4th quarter valued at about $611,000. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Target by 15.4% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 342,487 shares of the retailer's stock valued at $30,721,000 after purchasing an additional 45,803 shares during the period. Franklin Resources Inc. boosted its position in shares of Target by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer's stock valued at $605,507,000 after purchasing an additional 142,937 shares during the period. Finally, Mather Group LLC. boosted its position in shares of Target by 7.5% in the 4th quarter. Mather Group LLC. now owns 155,222 shares of the retailer's stock valued at $15,173,000 after purchasing an additional 10,839 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Insider Activity

In other news, insider Cara A. Sylvester sold 10,000 shares of the firm's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the sale, the insider owned 45,930 shares in the company, valued at $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TGT. Telsey Advisory Group upped their target price on Target from $148.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. Evercore set a $130.00 target price on Target in a research report on Monday, May 18th. JPMorgan Chase & Co. upped their target price on Target from $120.00 to $129.00 and gave the company a "neutral" rating in a research report on Friday, May 15th. Barclays reissued an "underweight" rating on shares of Target in a research report on Monday, June 1st. Finally, Wall Street Zen raised Target from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Target currently has an average rating of "Hold" and a consensus price target of $126.11.

Target Stock Performance

Shares of TGT stock opened at $133.54 on Wednesday. The company has a market cap of $60.65 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 2.60 and a beta of 1.00. The stock has a 50 day simple moving average of $125.93 and a 200-day simple moving average of $114.33. Target Corporation has a 12-month low of $83.44 and a 12-month high of $137.87. 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 (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating 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 firm had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same period last year, the business posted $1.30 EPS. Target's quarterly 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, equities analysts forecast that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 3.5%. This is a positive change from Target's previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. Target's payout ratio is 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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