Proficio Capital Partners LLC Invests $1.09 Million in Target Corporation $TGT

Key Points

• Proficio Capital Partners initiated a Target position worth approximately $1.09 million by purchasing 8,383 shares in the second quarter. Institutional investors and hedge funds collectively own 79.73% of Target.
• Target reported strong quarterly results, with EPS of $4.11 versus the $2.35 consensus estimate and revenue of $26.54 billion, up 5.3% year over year. The company also raised its quarterly dividend to $1.16, equivalent to a 2.8% annual yield.
• Target shares opened at $163.75, near their 52-week high of $170.75, while analyst sentiment remains mixed: the stock carries a consensus “Hold” rating and an average price target of $159.52.

Proficio Capital Partners LLC bought a new stake in shares of Target Corporation (NYSE:TGT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,383 shares of the retailer's stock, valued at approximately $1,095,000.

Several other hedge funds also recently modified their holdings of TGT. Brighton Jones LLC grew its holdings in Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after acquiring an additional 3,059 shares during the period. Woodline Partners LP lifted its position in shares of Target by 39.9% during the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer's stock valued at $4,040,000 after acquiring an additional 11,047 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Target by 22.8% during the second 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. lifted its stake in Target by 8.0% during the second quarter. Sei Investments Co. now owns 190,860 shares of the retailer's stock valued at $18,832,000 after buying an additional 14,195 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in 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 worth $26,910,000 after purchasing an additional 27,063 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Target

In related news, CAO Matthew A. Liegel sold 926 shares of Target stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the completion of the transaction, the chief accounting officer directly owned 12,266 shares of the company's stock, valued at $2,005,613.66. This trade represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Melissa K. Kremer sold 15,500 shares of Target stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the completion of the transaction, the insider owned 56,981 shares of the company's stock, valued at $9,684,490.76. This trade represents a 21.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.13% of the company's stock.

Target Stock Performance

TGT opened at $163.75 on Wednesday. Target Corporation has a 1 year low of $83.44 and a 1 year high of $170.75. The stock has a market cap of $74.39 billion, a PE ratio of 17.00, a P/E/G ratio of 3.00 and a beta of 0.99. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80. The stock's 50 day simple moving average is $145.43 and its 200-day simple moving average is $130.64.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, topping analysts' consensus estimates of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The company had revenue of $26.54 billion during the quarter, compared to the consensus estimate of $26.13 billion. During the same period last year, the firm earned $2.05 EPS. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Sell-side analysts forecast that Target Corporation will post 8.84 EPS for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th were paid a $1.16 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 2.8%. This is a boost from Target's previous quarterly dividend of $1.14. Target's dividend payout ratio is presently 48.18%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TGT. TD Cowen lifted their target price on Target from $155.00 to $160.00 and gave the company a "hold" rating in a research note on Thursday, August 20th. Oppenheimer increased their price objective on Target from $140.00 to $170.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Freedom Capital lowered Target from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 20th. BMO Capital Markets lifted their price target on shares of Target from $150.00 to $160.00 and gave the company a "market perform" rating in a research report on Thursday, August 20th. Finally, Wells Fargo & Company boosted their price objective on Target from $165.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Target currently has a consensus rating of "Hold" and a consensus target price of $159.52.

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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