J. Safra Sarasin Holding AG Raises Holdings in Target Corporation $TGT

Key Points

• J. Safra Sarasin Holding AG more than doubled its Target stake in the first quarter, increasing holdings by 105.7% to 19,776 shares worth about $2.4 million.
• Target reported strong quarterly results, with earnings of $1.71 per share beating expectations and revenue of $25.44 billion topping estimates; sales rose 6.7% year over year.
• The company also raised its dividend to $1.16 per share from $1.14, giving it an annualized payout of $4.64 and a dividend yield of about 3.4%.

J. Safra Sarasin Holding AG grew its stake in Target Corporation (NYSE:TGT - Free Report) by 105.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 19,776 shares of the retailer's stock after buying an additional 10,163 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Target were worth $2,396,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC lifted its stake in Target by 16.0% in the first quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer's stock worth $70,000 after acquiring an additional 80 shares during the last quarter. Howe & Rusling Inc. raised its holdings in shares of Target by 3.1% in the 1st quarter. Howe & Rusling Inc. now owns 2,951 shares of the retailer's stock valued at $358,000 after purchasing an additional 90 shares in the last quarter. Crawford Investment Counsel Inc. lifted its position in shares of Target by 0.4% during the 4th quarter. Crawford Investment Counsel Inc. now owns 20,163 shares of the retailer's stock worth $1,971,000 after purchasing an additional 90 shares during the last quarter. Valtinson Bruner Financial Planning LLC lifted its position in shares of Target by 2.6% during the 4th quarter. Valtinson Bruner Financial Planning LLC now owns 3,604 shares of the retailer's stock worth $352,000 after purchasing an additional 92 shares during the last quarter. Finally, Auxano Advisors LLC grew its stake in shares of Target by 3.0% during the fourth quarter. Auxano Advisors LLC now owns 3,193 shares of the retailer's stock worth $312,000 after purchasing an additional 93 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction dated 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 sale, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company's stock.

Target Price Performance

TGT stock opened at $134.94 on Tuesday. The company has a market capitalization of $61.29 billion, a P/E ratio of 17.83, a PEG ratio of 2.64 and a beta of 0.98. Target Corporation has a twelve month low of $83.44 and a twelve month high of $142.82. The business has a 50 day simple moving average of $128.51 and a 200-day simple moving average of $119.44. 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 announced its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The business had revenue of $25.44 billion for the quarter, compared to analysts' expectations of $24.66 billion. During the same period in the previous year, the company posted $1.30 EPS. The company'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. As a group, equities analysts anticipate that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The firm 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 $1.16 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Target's previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.4%. Target's dividend payout ratio is currently 60.24%.

Analysts Set New Price Targets

A number of research firms have weighed in on TGT. Telsey Advisory Group raised their price target on Target from $148.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, May 21st. Guggenheim increased their price objective on Target from $140.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 12th. Barclays restated an "underweight" rating on shares of Target in a research note on Monday, June 1st. Evercore set a $130.00 price target on shares of Target in a research note on Monday, May 18th. Finally, Freedom Capital downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 20th. Twelve research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $130.64.

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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