SCS Capital Management LLC Makes New $11.58 Million Investment in Target Corporation $TGT

SCS Capital Management LLC acquired a new position in Target Corporation (NYSE:TGT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,681 shares of the retailer's stock, valued at approximately $11,583,000.

A number of other hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp acquired a new position in shares of Target during the 2nd quarter valued at $831,466,000. Norges Bank purchased a new position in Target in the fourth quarter valued at about $587,903,000. TOMS Capital Investment Management LP purchased a new position in Target in the fourth quarter valued at about $257,571,000. AQR Capital Management LLC raised its position in Target by 243.8% in the fourth quarter. AQR Capital Management LLC now owns 2,870,210 shares of the retailer's stock valued at $280,563,000 after purchasing an additional 2,035,298 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Target by 6,639.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,912,963 shares of the retailer's stock worth $186,992,000 after purchasing an additional 1,884,577 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Trading Up 0.0%

TGT opened at $154.52 on Monday. The stock has a market capitalization of $70.18 billion, a PE ratio of 20.41, a P/E/G ratio of 2.51 and a beta of 0.96. The firm's fifty day moving average price is $138.02 and its 200 day moving average price is $126.29. 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 Corporation has a 12-month low of $83.44 and a 12-month high of $156.47.

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

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders 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 yield of 3.0%. This is a boost from Target's previous quarterly dividend of $1.14. Target's dividend payout ratio (DPR) is 61.29%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. KeyCorp reissued a "sector weight" rating on shares of Target in a research report on Thursday, May 21st. Wall Street Zen upgraded shares of Target from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Freedom Capital cut shares of Target from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 20th. BMO Capital Markets upped their target price on shares of Target from $130.00 to $150.00 and gave the company a "market perform" rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Target from $129.00 to $157.00 and gave the company a "neutral" rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $143.30.

Insider Buying and Selling

In other news, insider Cara A. Sylvester sold 10,000 shares of Target 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 transaction, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their position. The sale was disclosed in a legal 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.

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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