OP Asset Management Ltd Makes New Investment in Target Corporation $TGT

Key Points

• OP Asset Management Ltd opened a new position in Target during the first quarter, buying 46,082 shares valued at about $5.6 million.
• Target’s latest earnings beat expectations, with EPS of $1.71 versus $1.47 expected and revenue of $25.44 billion, up 6.7% year over year. The company also raised its FY2026 guidance to 7.50–8.50 EPS.
• Target increased its quarterly dividend to $1.16 per share, putting the annualized payout at $4.64 and the dividend yield at about 3.3%. Meanwhile, analyst sentiment remains mixed, with the stock carrying an overall Hold rating and an average target price of $130.64.

OP Asset Management Ltd purchased a new stake in Target Corporation (NYSE:TGT - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 46,082 shares of the retailer's stock, valued at approximately $5,585,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after acquiring an additional 3,059 shares in the last quarter. Woodline Partners LP grew its holdings in Target by 39.9% during the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer's stock worth $4,040,000 after acquiring an additional 11,047 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Target by 22.8% in the 2nd quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer's stock valued at $6,872,000 after purchasing an additional 12,948 shares during the last quarter. Sei Investments Co. increased its position in shares of Target by 8.0% in the 2nd quarter. Sei Investments Co. now owns 190,860 shares of the retailer's stock valued at $18,832,000 after purchasing an additional 14,195 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Target by 11.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer's stock valued at $26,910,000 after purchasing an additional 27,063 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on TGT. Freedom Capital cut shares of Target from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 20th. BNP Paribas Exane increased their target price on Target from $63.00 to $88.00 and gave the company an "underperform" rating in a report on Wednesday, March 4th. Wall Street Zen upgraded Target from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Target in a report on Monday, May 4th. Finally, Jefferies Financial Group upped their price objective on Target from $140.00 to $161.00 and gave the stock a "buy" rating in a research report on Friday. Twelve investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $130.64.

Insider Buying and Selling at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider directly owned 45,930 shares of the company's stock, 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company's stock.

Target Trading Up 0.5%

Shares of Target stock opened at $140.23 on Friday. The company has a fifty day simple moving average of $128.00 and a 200-day simple moving average of $116.59. Target Corporation has a 12-month low of $83.44 and a 12-month high of $142.82. 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 $63.69 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 2.73 and a beta of 1.00.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping the consensus estimate of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The firm had revenue of $25.44 billion for the quarter, compared to analyst estimates of $24.66 billion. During the same period last year, the business earned $1.30 EPS. Target's revenue for the quarter was up 6.7% compared to the same quarter last year. 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 fiscal year.

Target Increases Dividend

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