Mediolanum International Funds Ltd Purchases 422,344 Shares of Target Corporation $TGT

Key Points

• Mediolanum International Funds Ltd sharply increased its Target stake in Q1, buying 422,344 shares and lifting its holdings by 2,894% to 436,938 shares worth about $51.9 million.
• Target reported better-than-expected quarterly results, with EPS of $1.71 versus estimates of $1.47 and revenue of $25.44 billion, up 6.7% year over year.
• The retailer also raised its quarterly dividend to $1.16 per share from $1.14, implying an annualized yield of 3.3%.

Mediolanum International Funds Ltd boosted its position in Target Corporation (NYSE:TGT - Free Report) by 2,894.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 436,938 shares of the retailer's stock after buying an additional 422,344 shares during the quarter. Mediolanum International Funds Ltd owned approximately 0.10% of Target worth $51,899,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of TGT. German American Bancorp Inc. bought a new stake in shares of Target in the first quarter worth $315,000. California Public Employees Retirement System boosted its holdings in Target by 3.6% during the first quarter. California Public Employees Retirement System now owns 873,454 shares of the retailer's stock worth $105,863,000 after purchasing an additional 30,525 shares during the last quarter. Ranch Capital Advisors Inc. grew its position in Target by 8.2% in the first quarter. Ranch Capital Advisors Inc. now owns 18,529 shares of the retailer's stock valued at $2,246,000 after purchasing an additional 1,410 shares in the last quarter. Heartland Bank & Trust Co bought a new position in Target in the first quarter valued at $227,000. Finally, Atlas Wealth LLC bought a new position in Target in the first quarter valued at $923,000. Institutional investors own 79.73% of the company's stock.

Insider Buying and Selling

In related news, insider Cara A. Sylvester sold 10,000 shares of Target stock in a transaction dated 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TGT shares. Barclays reissued an "underweight" rating on shares of Target in a research report on Monday, June 1st. Guggenheim lifted their target price on Target from $140.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, June 12th. Wells Fargo & Company upped their target price on Target from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, May 12th. Telsey Advisory Group increased their price target on Target from $148.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. Finally, Citigroup increased their price target on Target from $117.00 to $133.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $131.96.

Target Stock Performance

NYSE TGT opened at $139.93 on Friday. The firm has a market capitalization of $63.55 billion, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98. 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 firm's fifty day moving average price is $129.35 and its two-hundred day moving average price is $120.43. Target Corporation has a 1 year low of $83.44 and a 1 year high of $144.40.

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

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This is an increase from Target's previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a yield of 3.3%. Target's dividend payout ratio is 61.29%.

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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