Oppenheimer Asset Management Inc. Buys Shares of 65,737 Target Corporation $TGT

Key Points

• Oppenheimer Asset Management acquired 65,737 Target shares worth approximately $8.6 million in the second quarter, while institutional investors collectively own 79.73% of the company.
• Analyst sentiment remains mixed: UBS and RBC raised their price targets to $166, but Target has an overall “Hold” consensus rating and an average target price of $143.30.
• Target reported better-than-expected quarterly results, with adjusted earnings of $1.71 per share and revenue of $25.44 billion, and increased its quarterly dividend to $1.16 per share, representing a 3.0% annual yield.

Oppenheimer Asset Management Inc. bought a new stake in shares of Target Corporation (NYSE:TGT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 65,737 shares of the retailer's stock, valued at approximately $8,586,000.

Several other large investors also recently modified their holdings of the stock. Wynn Capital LLC grew its holdings in Target by 0.9% during the second quarter. Wynn Capital LLC now owns 8,455 shares of the retailer's stock valued at $1,104,000 after purchasing an additional 79 shares during the period. Whipplewood Advisors LLC raised its stake in shares of Target by 16.0% in the first quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer's stock valued at $70,000 after buying an additional 80 shares during the period. Prosperity Consulting Group LLC raised its stake in shares of Target by 3.4% in the first quarter. Prosperity Consulting Group LLC now owns 2,474 shares of the retailer's stock valued at $300,000 after buying an additional 81 shares during the period. Versant Capital Management Inc lifted its position in shares of Target by 3.4% during the 2nd quarter. Versant Capital Management Inc now owns 2,478 shares of the retailer's stock valued at $324,000 after buying an additional 82 shares during the last quarter. Finally, Howe & Rusling Inc. lifted its position in shares of Target by 3.1% during the 1st quarter. Howe & Rusling Inc. now owns 2,951 shares of the retailer's stock valued at $358,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TGT. UBS Group lifted their price objective on Target from $144.00 to $166.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Wolfe Research set a $169.00 price objective on shares of Target in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Target from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Bank of America reiterated an "underperform" rating and issued a $124.00 target price (up from $110.00) on shares of Target in a research note on Wednesday. Finally, Royal Bank Of Canada boosted their price target on shares of Target from $153.00 to $166.00 and gave the company an "outperform" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Target currently has an average rating of "Hold" and a consensus target price of $143.30.

Insider Buying and Selling at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the business'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 value of $1,258,900.00. Following the completion of the sale, the insider owned 45,930 shares in the company, valued at $5,782,127.70. The trade was a 17.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.13% of the company's stock.

Target Stock Down 0.6%

Shares of NYSE:TGT opened at $154.52 on Friday. The firm has a market capitalization of $70.18 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.53 and a beta of 0.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. Target Corporation has a 52-week low of $83.44 and a 52-week high of $156.47. The firm has a fifty day moving average of $138.02 and a 200 day moving average of $126.14.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share 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 last year, the business posted $1.30 earnings per share. The company's revenue for the quarter 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, research analysts anticipate that Target Corporation will post 8.39 EPS for the current fiscal year.

Target Increases Dividend

The company also recently disclosed 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 of this dividend is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.0%. This is a positive change from Target's previous quarterly dividend of $1.14. Target's payout ratio is 61.29%.

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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