Hsbc Holdings PLC Purchases 85,585 Shares of Target Corporation $TGT

Key Points

• HSBC Holdings PLC increased its Target stake by 5.2% in the fourth quarter, buying 85,585 more shares and bringing its total holdings to 1,735,323 shares worth about $169.7 million.
• Target reported strong quarterly results, with EPS of $1.71 and revenue of $25.44 billion, both beating analyst expectations; revenue rose 6.7% year over year.
• The company also raised its quarterly dividend to $1.16 per share from $1.14, implying an annualized dividend of $4.64 and a yield of 3.5%.

Hsbc Holdings PLC boosted its position in Target Corporation (NYSE:TGT - Free Report) by 5.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,735,323 shares of the retailer's stock after purchasing an additional 85,585 shares during the period. Hsbc Holdings PLC owned about 0.38% of Target worth $169,654,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGT. First Trust Advisors LP lifted its position in shares of Target by 10.9% in the third quarter. First Trust Advisors LP now owns 1,267,577 shares of the retailer's stock valued at $113,702,000 after buying an additional 124,371 shares during the last quarter. Winning Points Advisors LLC acquired a new position in shares of Target during the 4th quarter worth approximately $611,000. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Target by 15.4% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 342,487 shares of the retailer's stock worth $30,721,000 after acquiring an additional 45,803 shares during the last quarter. Franklin Resources Inc. raised its stake in 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 acquiring an additional 142,937 shares during the period. Finally, Mather Group LLC. raised its stake in 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 acquiring an additional 10,839 shares during the period. Institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

TGT has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Target from $117.00 to $133.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Mizuho set a $120.00 price objective on shares of Target in a research report on Thursday, March 5th. Telsey Advisory Group raised their target price on shares of Target from $148.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, May 21st. Royal Bank Of Canada lifted their target price on shares of Target from $132.00 to $153.00 and gave the stock an "outperform" rating in a report on Thursday, May 21st. Finally, Roth Mkm reiterated a "neutral" rating and issued a $114.00 price target on shares of Target in a research note on Friday, May 22nd. Eleven analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $126.11.

Target Trading Up 0.1%

Shares of TGT stock opened at $130.82 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. The stock has a market cap of $59.42 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 2.55 and a beta of 1.00. The stock has a 50 day simple moving average of $126.43 and a 200 day simple moving average of $115.00. Target Corporation has a 1 year low of $83.44 and a 1 year high of $137.87.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.24. The firm had revenue of $25.44 billion for the quarter, compared to analyst estimates of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The company's revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, research analysts predict that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently announced 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 is an increase from Target's previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 3.5%. Target's payout ratio is currently 60.24%.

Insider Activity at Target

In related 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 value of $1,258,900.00. Following the transaction, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company's stock.

Target Company 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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