Target Corporation $TGT Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Target stake by 355.7% in the third quarter, acquiring 243,252 additional shares and ending with 311,646 shares valued at approximately $48.8 million. Institutional investors collectively own 79.73% of Target.
• Target reported quarterly earnings of $4.11 per share, significantly exceeding the $2.35 consensus estimate, while revenue rose 5.3% year over year to $26.54 billion.
• Analysts’ consensus rating remains “Hold”, with an average price target of $159.33. Target also declared a quarterly dividend of $1.16 per share, implying a 3.0% annualized yield.

Assenagon Asset Management S.A. boosted its holdings in Target Corporation (NYSE:TGT - Free Report) by 355.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 311,646 shares of the retailer's stock after purchasing an additional 243,252 shares during the quarter. Assenagon Asset Management S.A. owned about 0.07% of Target worth $48,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Target during the 2nd quarter valued at $5,054,604,000. Bank of New York Mellon Corp purchased a new position in shares of Target in the second quarter worth $831,466,000. Dimensional Fund Advisors LP lifted its holdings in shares of Target by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,413,840 shares of the retailer's stock valued at $656,091,000 after purchasing an additional 411,608 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Target by 1.8% during the second quarter. Bank of America Corp DE now owns 4,575,880 shares of the retailer's stock valued at $597,656,000 after purchasing an additional 82,268 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Target by 12.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,514,522 shares of the retailer's stock valued at $589,642,000 after purchasing an additional 514,155 shares in the last quarter. Institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TGT. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $154.00 price target on shares of Target in a report on Thursday, August 20th. Mizuho set a $150.00 price objective on Target in a report on Thursday, August 20th. Wolfe Research set a $169.00 price objective on Target in a research report on Monday, August 3rd. Guggenheim increased their target price on Target from $150.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Finally, Zacks Research upgraded shares of Target from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Target presently has a consensus rating of "Hold" and a consensus target price of $159.33.

Target Trading Down 1.4%

Shares of NYSE:TGT opened at $154.42 on Friday. The stock has a 50 day moving average of $157.77 and a 200 day moving average of $139.90. The company has a market cap of $70.15 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 2.86 and a beta of 0.98. Target Corporation has a 12-month low of $83.44 and a 12-month high of $170.75. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share 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 for the quarter, compared to the consensus estimate of $26.13 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The company'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. As a group, equities research analysts expect that Target Corporation will post 9.02 EPS for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 11th will be given a dividend of $1.16 per share. The ex-dividend date is Tuesday, November 10th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.0%. Target's dividend payout ratio is currently 48.18%.

Insider Buying and Selling at Target

In related news, CAO Matthew A. Liegel sold 926 shares of the business's stock in a transaction dated 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 directly owned 12,266 shares in the company, valued at approximately $2,005,613.66. The trade was a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Melissa K. Kremer sold 15,500 shares of the firm's stock in a transaction 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 directly owned 56,981 shares of the company's stock, valued at approximately $9,684,490.76. This trade represents a 21.38% 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.

Target Company Profile

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping platforms under the Target name. The company sells a broad assortment of products, including apparel and accessories, beauty and household essentials, electronics, toys, groceries, home furnishings, and seasonal merchandise.

Target also offers services designed to support omnichannel shopping, including order pickup, Drive Up, same-day delivery, and shipping through its digital channels.

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