Target Corporation $TGT Position Boosted by Nicholas Investment Partners LP

Nicholas Investment Partners LP increased its position in Target Corporation (NYSE:TGT - Free Report) by 204.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,154 shares of the retailer's stock after purchasing an additional 37,030 shares during the period. Nicholas Investment Partners LP's holdings in Target were worth $7,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TGT. Vanguard Group Inc. lifted its holdings in Target by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer's stock worth $5,690,262,000 after buying an additional 286,499 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Target in the 2nd quarter valued at approximately $5,054,604,000. State Street Corp increased its holdings in shares of Target by 0.3% in the 4th quarter. State Street Corp now owns 37,772,533 shares of the retailer's stock valued at $3,692,265,000 after acquiring an additional 124,468 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Target by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer's stock valued at $1,668,194,000 after acquiring an additional 561,898 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Target during the 2nd quarter valued at approximately $831,466,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Target

In other news, CAO Matthew A. Liegel sold 926 shares of the business's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $163.51, for a total value of $151,410.26. Following the sale, the chief accounting officer owned 12,266 shares of the company's stock, valued at approximately $2,005,613.66. The trade was a 7.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cara A. Sylvester sold 10,000 shares of the company's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TGT. Deutsche Bank Aktiengesellschaft set a $150.00 price objective on shares of Target in a report on Thursday. Sanford C. Bernstein reissued a "market perform" rating and set a $154.00 target price on shares of Target in a report on Thursday. Zacks Research downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Citigroup lifted their price target on shares of Target from $148.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, August 20th. Finally, DA Davidson boosted their price objective on shares of Target from $170.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Eleven 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 MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $159.52.

Target Trading Up 2.7%

NYSE:TGT opened at $169.96 on Tuesday. The firm has a market capitalization of $77.20 billion, a P/E ratio of 17.65, a P/E/G ratio of 3.34 and a beta of 0.96. The business has a 50 day simple moving average of $141.55 and a 200 day simple moving average of $128.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36. Target Corporation has a 12-month low of $83.44 and a 12-month high of $170.75.

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

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be paid a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. This is an increase from Target's previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a dividend yield of 2.7%. Target's dividend payout ratio (DPR) is 48.18%.

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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