Target Corporation $TGT Shares Acquired by CIBC Asset Management Inc

Key Points

• CIBC Asset Management increased its Target stake by 56.7% in the fourth quarter, adding 42,110 shares to hold 116,397 shares worth about $11.4 million.
• Target’s institutional ownership remains very high, with hedge funds and other institutions owning 79.73% of the stock, and several large investors including Vanguard, State Street, and Norges Bank also boosting or initiating positions.
• Analysts and earnings updates were mixed but generally supportive: Zacks raised longer-term EPS estimates, Target recently beat quarterly earnings and revenue expectations, and the stock currently carries a Hold consensus with a price target of $125.93.

CIBC Asset Management Inc increased its holdings in Target Corporation (NYSE:TGT - Free Report) by 56.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 116,397 shares of the retailer's stock after buying an additional 42,110 shares during the period. CIBC Asset Management Inc's holdings in Target were worth $11,378,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Target by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer's stock valued at $5,690,262,000 after buying an additional 286,499 shares during the period. State Street Corp boosted its holdings in shares of Target by 2.5% in the 3rd quarter. State Street Corp now owns 37,648,065 shares of the retailer's stock valued at $3,377,031,000 after buying an additional 911,964 shares during the period. Norges Bank acquired a new position in shares of Target in the 4th quarter valued at about $587,903,000. Dimensional Fund Advisors LP boosted its holdings in shares of Target by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,051,151 shares of the retailer's stock valued at $453,050,000 after buying an additional 122,300 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Target by 10.2% in the 3rd quarter. Invesco Ltd. now owns 3,910,163 shares of the retailer's stock valued at $350,742,000 after buying an additional 360,781 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Target News Roundup

Here are the key news stories impacting Target this week:

• Positive Sentiment: Zacks Research raised Target’s earnings estimates for FY2027, FY2028, and FY2029, signaling stronger expected profitability over the next several years. Target Corporation NYSE: TGT
• Positive Sentiment: The firm also increased quarterly EPS estimates for Q1 2028, Q1 2029, Q2 2028, and Q3 2028, which may reassure investors that earnings momentum is improving beyond the current year. Target Corporation NYSE: TGT
• Neutral Sentiment: Target is trending on Zacks.com and Yahoo Finance, suggesting elevated investor interest, but those items do not add new fundamental news by themselves. Is Trending Stock Target Corporation (TGT) a Buy Now?
• Neutral Sentiment: Current full-year EPS consensus remains at $8.35, so the revisions are supportive but not yet a major reset to near-term expectations. Is Trending Stock Target Corporation (TGT) a Buy Now?
• Negative Sentiment: Zacks also trimmed some estimates, including Q4 2027 EPS, showing that the outlook is not uniformly improving across all time periods. Target Corporation NYSE: TGT

Insider Activity at Target

In other news, CAO Matthew A. Liegel sold 2,053 shares of Target stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total value of $240,591.07. Following the transaction, the chief accounting officer directly owned 12,143 shares of the company's stock, valued at $1,423,038.17. This trade represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cara A. Sylvester sold 10,000 shares of the business's stock in a transaction that occurred on 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 transaction, the insider directly owned 45,930 shares in the company, 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. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. BNP Paribas Exane lifted their price objective on shares of Target from $63.00 to $88.00 and gave the company an "underperform" rating in a research report on Wednesday, March 4th. Robert W. Baird lifted their price objective on shares of Target from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Thursday, May 21st. Morgan Stanley lifted their price objective on shares of Target from $125.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, March 4th. Bank of America assumed coverage on shares of Target in a research report on Friday, February 27th. They issued an "underperform" rating and a $103.00 price objective on the stock. Finally, KeyCorp reiterated a "sector weight" rating on shares of Target in a research report on Thursday, May 21st. Eleven research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Target currently has a consensus rating of "Hold" and a consensus price target of $125.93.

Target Stock Down 1.1%

TGT stock opened at $122.52 on Friday. Target Corporation has a 52 week low of $83.44 and a 52 week high of $133.10. The company has a market capitalization of $55.65 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 2.42 and a beta of 1.00. The firm's 50-day moving average is $124.43 and its two-hundred day moving average is $112.02. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.24. The company had revenue of $25.44 billion for the quarter, compared to analysts' expectations of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The business's revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, analysts forecast that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 13th were paid a $1.14 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.56 annualized dividend and a dividend yield of 3.7%. Target's payout ratio is currently 60.24%.

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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