Target Corporation $TGT is Kinloch Capital LLC's 9th Largest Position

Key Points

• Kinloch Capital increased its Target stake by 25.2% in the second quarter to 42,510 shares valued at approximately $5.55 million, making Target its ninth-largest portfolio holding.
• Target reported strong quarterly results, with EPS of $4.11 versus the $2.35 consensus and revenue of $26.54 billion, up 5.3% year over year. Shares opened near a 52-week high at $169.96.
• Target raised its quarterly dividend from $1.14 to $1.16 per share, equivalent to a 2.7% annualized yield. Despite several bullish analyst revisions, the stock has a consensus “Hold” rating and an average price target of $159.52.

Kinloch Capital LLC raised its stake in Target Corporation (NYSE:TGT - Free Report) by 25.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,510 shares of the retailer's stock after buying an additional 8,554 shares during the period. Target comprises about 2.0% of Kinloch Capital LLC's investment portfolio, making the stock its 9th biggest position. Kinloch Capital LLC's holdings in Target were worth $5,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. WFA of San Diego LLC bought a new stake in shares of Target during the 2nd quarter worth $25,000. Jessup Wealth Management Inc purchased a new position in Target in the fourth quarter worth $25,000. Richardson Financial Services Inc. bought a new position in Target in the second quarter valued at $26,000. Altshuler Shaham Ltd bought a new position in Target in the fourth quarter valued at $26,000. Finally, MidFirst Bank purchased a new stake in Target during the fourth quarter valued at about $31,000. Institutional investors own 79.73% of the company's stock.

Target Price Performance

Shares of NYSE:TGT opened at $169.96 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. The stock has a market cap of $77.20 billion, a PE ratio of 17.65, a PEG ratio of 3.34 and a beta of 0.96. The company's fifty day moving average is $141.55 and its 200 day moving average is $128.55. Target Corporation has a 52 week low of $83.44 and a 52 week high of $170.75.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The business had revenue of $26.54 billion during the quarter, compared to analyst estimates of $26.13 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The company's revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Research analysts anticipate that Target Corporation will post 8.84 earnings per share for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be paid a $1.16 dividend. This is a boost from Target's previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.7%. Target's dividend payout ratio is presently 48.18%.

Insider Activity

In other Target 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 transaction, the insider directly owned 45,930 shares of the company's stock, valued at $5,782,127.70. The trade was a 17.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 926 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $163.51, for a total value of $151,410.26. Following the completion of the sale, the chief accounting officer owned 12,266 shares of the company's stock, valued at $2,005,613.66. The trade was a 7.02% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TGT. The Goldman Sachs Group lifted their price target on Target from $127.00 to $161.00 and gave the stock a "neutral" rating in a research note on Thursday. Zacks Research lowered Target from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. TD Cowen raised their price objective on Target from $155.00 to $160.00 and gave the company a "hold" rating in a report on Thursday, August 20th. Barclays raised their price objective on Target from $115.00 to $140.00 and gave the company an "underweight" rating in a report on Wednesday, August 19th. Finally, DA Davidson boosted their target price on Target from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Eleven research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Target presently has a consensus rating of "Hold" and an average price target of $159.52.

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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