Rayburn West Financial Services LLC Purchases New Position in Target Corporation $TGT

Key Points

• Rayburn West Financial Services opened a new position in Target, buying 30,069 shares valued at about $2.94 million. The stake makes up 1.8% of the firm’s portfolio.
• Target’s latest earnings beat expectations, reporting $2.44 EPS versus $2.16 estimated, though revenue of $30.45 billion slightly missed forecasts and fell 1.5% year over year.
• Target reaffirmed shareholder returns with a quarterly dividend of $1.14 per share, implying a 3.8% annual yield. Meanwhile, analysts remain mixed, with a consensus rating of Hold and an average price target of $118.71.

Rayburn West Financial Services LLC purchased a new stake in shares of Target Corporation (NYSE:TGT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 30,069 shares of the retailer's stock, valued at approximately $2,939,000. Target makes up 1.8% of Rayburn West Financial Services LLC's portfolio, making the stock its 21st biggest position.

Several other institutional investors also recently bought and sold shares of TGT. Vanguard Group Inc. raised its position in Target by 12.6% during the third quarter. Vanguard Group Inc. now owns 57,925,898 shares of the retailer's stock valued at $5,195,953,000 after acquiring an additional 6,481,560 shares in the last quarter. State Street Corp raised its position in Target by 2.5% during the third quarter. State Street Corp now owns 37,648,065 shares of the retailer's stock valued at $3,377,031,000 after acquiring an additional 911,964 shares in the last quarter. Amundi raised its position in Target by 38.6% during the third quarter. Amundi now owns 1,913,883 shares of the retailer's stock valued at $170,278,000 after acquiring an additional 533,416 shares in the last quarter. Ameriprise Financial Inc. raised its position in Target by 17.1% during the second quarter. Ameriprise Financial Inc. now owns 3,162,050 shares of the retailer's stock valued at $311,911,000 after acquiring an additional 461,495 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Target by 21.4% during the third quarter. Nordea Investment Management AB now owns 2,408,505 shares of the retailer's stock valued at $210,865,000 after acquiring an additional 425,081 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Matthew A. Liegel sold 2,053 shares of Target stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $117.19, for a total transaction of $240,591.07. Following the transaction, the chief accounting officer owned 12,143 shares in the company, valued at approximately $1,423,038.17. This trade represents a 14.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.16% of the company's stock.

Target Stock Performance

Shares of Target stock opened at $121.47 on Thursday. Target Corporation has a one year low of $83.44 and a one year high of $133.10. The company has a market cap of $55.17 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 5.08 and a beta of 1.01. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.36 and a current ratio of 0.94. The business's 50 day moving average price is $121.93 and its 200 day moving average price is $108.26.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Tuesday, March 3rd. The retailer reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.16 by $0.28. Target had a return on equity of 22.25% and a net margin of 3.54%.The firm had revenue of $30.45 billion for the quarter, compared to the consensus estimate of $30.52 billion. During the same quarter last year, the business posted $2.41 earnings per share. The firm's revenue was down 1.5% compared to the same quarter last year. Target has set its Q1 2026 guidance at 1.300- EPS and its FY 2026 guidance at 7.500-8.500 EPS. On average, research analysts predict that Target Corporation will post 8.02 EPS for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Wednesday, May 13th will be given a dividend of $1.14 per share. The ex-dividend date is Wednesday, May 13th. This represents a $4.56 dividend on an annualized basis and a yield of 3.8%. Target's dividend payout ratio (DPR) is presently 56.09%.

Wall Street Analyst Weigh In

Several analysts have commented on TGT shares. Wolfe Research raised Target from an "underperform" rating to a "peer perform" rating in a report on Tuesday, January 27th. Wells Fargo & Company raised their price objective on Target from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday. UBS Group raised their price objective on Target from $130.00 to $144.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Evercore set a $125.00 price objective on Target in a report on Tuesday, April 21st. Finally, DA Davidson raised their price objective on Target from $120.00 to $140.00 and gave the company a "buy" rating in a report on Monday, March 9th. Eleven investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $118.71.

Trending Headlines about Target

Here are the key news stories impacting Target this week:

• Positive Sentiment: Wells Fargo raised its price target on Target to $140 from $135 and kept an Overweight rating, citing an improved setup for the shares. Wells Fargo, Barclays Lift Target (TGT) Price Targets Following Improved Setup
• Positive Sentiment: Truist Financial lifted its price target to $123 from $121 and maintained a Hold rating, signaling modest upside from current levels. Target price target raised by Truist Financial Corporation
• Positive Sentiment: Target saw unusually heavy call option buying, suggesting traders are positioning for a potential move higher ahead of earnings. Target Sees Unusually High Options Volume
• Neutral Sentiment: Analysts expect Target to report earnings growth next week, but one report noted the company may not have the ideal setup for an earnings beat. Target (TGT) Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: Target is set to release quarterly earnings on Wednesday, keeping the stock in focus as investors look for guidance on sales trends and margins. Target (TGT) to Release Quarterly Earnings on Wednesday
• Negative Sentiment: Bank of America reiterated its Underperform rating and warned that Target faces a tougher sales environment in Q2 as tax refund benefits fade, even though it lifted its Q1 EPS estimate. Target faces tougher sales backdrop after tax refund boost fades

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.

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corporation (NYSE:TGT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.