M3 Wealth Management LLC Purchases Shares of 10,775 Target Corporation $TGT

Key Points

• M3 Wealth Management LLC opened a new position in Target, buying 10,775 shares valued at about $1.306 million in the first quarter.
• Analysts remain mixed on Target: the stock currently carries a consensus “Hold” rating with a consensus price target of $130.64, though several firms recently raised targets and one upgraded the shares to outperform.
• Target recently beat quarterly earnings expectations and raised its dividend to $1.16 per share from $1.14, implying a 3.5% yield and signaling continued shareholder returns.

M3 Wealth Management LLC purchased a new stake in Target Corporation (NYSE:TGT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,775 shares of the retailer's stock, valued at approximately $1,306,000.

Several other large investors also recently made changes to their positions in the stock. WFA of San Diego LLC bought a new stake in Target in the 2nd quarter valued at $25,000. Jessup Wealth Management Inc acquired a new position in Target in the 4th quarter worth $25,000. Altshuler Shaham Ltd bought a new position in Target during the 4th quarter worth about $26,000. Global Wealth Strategies & Associates increased its holdings in Target by 192.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer's stock worth $29,000 after purchasing an additional 192 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Target in the 4th quarter valued at about $30,000. Institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on TGT shares. Truist Financial upped their price objective on Target from $123.00 to $130.00 and gave the stock a "hold" rating in a research report on Wednesday, May 20th. Roth Capital reissued a "neutral" rating and issued a $114.00 target price on shares of Target in a research report on Friday, May 22nd. Guggenheim boosted their target price on Target from $140.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, June 12th. Royal Bank Of Canada boosted their target price on Target from $132.00 to $153.00 and gave the company an "outperform" rating in a research note on Thursday, May 21st. Finally, Wolfe Research raised Target from a "peer perform" rating to an "outperform" rating and set a $162.00 price target for the company in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Target presently has a consensus rating of "Hold" and a consensus price target of $130.64.

Insider Buying and Selling at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the company's stock in a transaction that occurred 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 represents a 17.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.13% of the stock is owned by company insiders.

Target Price Performance

Shares of NYSE TGT opened at $134.01 on Wednesday. The stock has a market capitalization of $60.87 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.63 and a beta of 0.98. The business has a 50-day moving average of $128.61 and a 200-day moving average of $119.71. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $142.82.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The business had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the previous year, the business earned $1.30 earnings per share. 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. As a group, sell-side analysts predict that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.16 per share. This is a positive change 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 presently 60.24%.

About Target

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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