Pallas Capital Advisors LLC Acquires Shares of 20,892 Target Corporation $TGT

Key Points

• Pallas Capital Advisors acquired 20,892 Target shares worth approximately $2.73 million in the second quarter. Institutional investors collectively own 79.73% of Target’s outstanding stock.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $143.85, despite several firms raising their targets.
• Target reported better-than-expected quarterly results, with EPS of $1.71 and revenue of $25.44 billion, while increasing its quarterly dividend to $1.16 per share, implying a 3.1% annual yield.

Pallas Capital Advisors LLC acquired a new position in shares of Target Corporation (NYSE:TGT - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 20,892 shares of the retailer's stock, valued at approximately $2,729,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TGT. Wynn Capital LLC lifted its holdings in Target by 0.9% in the second quarter. Wynn Capital LLC now owns 8,455 shares of the retailer's stock valued at $1,104,000 after acquiring an additional 79 shares during the period. Whipplewood Advisors LLC grew its stake in shares of Target by 16.0% during the 1st quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer's stock worth $70,000 after purchasing an additional 80 shares during the period. Prosperity Consulting Group LLC grew its stake in shares of Target by 3.4% during the 1st quarter. Prosperity Consulting Group LLC now owns 2,474 shares of the retailer's stock worth $300,000 after purchasing an additional 81 shares during the period. Versant Capital Management Inc increased its holdings in shares of Target by 3.4% in the 2nd quarter. Versant Capital Management Inc now owns 2,478 shares of the retailer's stock valued at $324,000 after purchasing an additional 82 shares in the last quarter. Finally, Howe & Rusling Inc. increased 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. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on TGT. Robert W. Baird boosted their price objective on shares of Target from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 21st. Piper Sandler lifted their price target on shares of Target from $127.00 to $146.00 and gave the company a "neutral" rating in a research report on Friday. Weiss Ratings reissued a "hold (c)" rating on shares of Target in a research note on Friday, July 31st. Sanford C. Bernstein upped their price target on Target from $124.00 to $135.00 and gave the stock a "market perform" rating in a report on Friday, July 31st. Finally, Bank of America restated an "underperform" rating and issued a $124.00 price target (up from $110.00) on shares of Target in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $143.85.

Target Stock Down 2.3%

Shares of NYSE TGT opened at $150.94 on Tuesday. The firm's 50-day moving average is $138.56 and its two-hundred day moving average is $126.62. The company has a market capitalization of $68.56 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 2.51 and a beta of 0.96. Target Corporation has a 12-month low of $83.44 and a 12-month high of $156.47. 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 (NYSE:TGT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $24.66 billion. During the same period last year, the company posted $1.30 EPS. The company's revenue was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Equities analysts anticipate that Target Corporation will post 8.4 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. Stockholders of record on Wednesday, August 12th will be given a $1.16 dividend. This is a boost from Target's previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, August 12th. Target's dividend payout ratio (DPR) is presently 61.29%.

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 that occurred on 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 transaction, the insider owned 45,930 shares of the company's stock, 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 SEC, which is available at the SEC website. 0.13% of the stock is currently owned by corporate insiders.

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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