Plato Investment Management Ltd Buys Shares of 22,805 Target Corporation $TGT

Key Points

• Plato Investment Management acquired 22,805 Target shares worth approximately $2.96 million in the second quarter. Institutional investors collectively own 79.73% of Target’s outstanding stock.
• Analysts raised several price targets, including Oppenheimer’s increase to $170, though Target maintains an overall “Hold” consensus rating with an average target of $143.30.
• Target reported quarterly EPS of $1.71 and revenue of $25.44 billion, exceeding estimates, while increasing its quarterly dividend to $1.16 per share, equivalent to a 3.0% annual yield.

Plato Investment Management Ltd bought a new position in Target Corporation (NYSE:TGT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 22,805 shares of the retailer's stock, valued at approximately $2,961,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wynn Capital LLC lifted its holdings in shares of Target by 0.9% during the 2nd quarter. Wynn Capital LLC now owns 8,455 shares of the retailer's stock valued at $1,104,000 after buying an additional 79 shares during the last quarter. Whipplewood Advisors LLC increased its holdings in Target by 16.0% in the first quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer's stock worth $70,000 after buying an additional 80 shares during the last quarter. Prosperity Consulting Group LLC increased its holdings in Target by 3.4% in the first quarter. Prosperity Consulting Group LLC now owns 2,474 shares of the retailer's stock worth $300,000 after buying an additional 81 shares during the last quarter. Versant Capital Management Inc raised its position in Target by 3.4% during the second quarter. Versant Capital Management Inc now owns 2,478 shares of the retailer's stock valued at $324,000 after acquiring an additional 82 shares in the last quarter. Finally, Howe & Rusling Inc. raised its position in Target by 3.1% during the first quarter. Howe & Rusling Inc. now owns 2,951 shares of the retailer's stock valued at $358,000 after acquiring an additional 90 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on TGT shares. Piper Sandler boosted their target price on shares of Target from $127.00 to $146.00 and gave the stock a "neutral" rating in a research report on Friday. DA Davidson raised their price target on shares of Target from $140.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, May 21st. Guggenheim lifted their price objective on shares of Target from $145.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Oppenheimer upped their price objective on shares of Target from $140.00 to $170.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Finally, Bank of America reiterated an "underperform" rating and issued a $124.00 price objective (up from $110.00) on shares of Target in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Target currently has an average rating of "Hold" and an average target price of $143.30.

Target Trading Up 0.0%

Shares of TGT stock opened at $154.52 on Monday. Target Corporation has a 12 month low of $83.44 and a 12 month high of $156.47. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The business's 50 day moving average is $138.02 and its two-hundred day moving average is $126.29. The company has a market cap of $70.18 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.51 and a beta of 0.96.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The company had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. During the same period last year, the business posted $1.30 earnings per share. The firm's revenue was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Equities analysts predict that Target Corporation will post 8.4 EPS for the current year.

Target Increases Dividend

The firm 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 $1.16 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a yield of 3.0%. This is an increase from Target's previous quarterly dividend of $1.14. Target's dividend payout ratio (DPR) is presently 61.29%.

Insider Buying and Selling

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 completion of the transaction, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

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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