Target Corporation $TGT Shares Acquired by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC boosted its Target stake by 52.4% in the first quarter, adding 48,235 shares and bringing its total to 140,326 shares worth about $17 million.
• Target reported better-than-expected quarterly results, with earnings of $1.71 per share and revenue of $25.44 billion, while also raising its full-year guidance to 7.5-8.5 EPS.
• The company increased its quarterly dividend to $1.16 per share, and the stock was trading up 2.0% at $134.94; analysts currently rate the shares a consensus Hold with an average price target of $130.64.

Kestra Advisory Services LLC lifted its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 52.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 140,326 shares of the retailer's stock after purchasing an additional 48,235 shares during the quarter. Kestra Advisory Services LLC's holdings in Target were worth $17,008,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Target in the first quarter valued at about $6,686,000. Greenwood Capital Associates LLC purchased a new stake in shares of Target in the 1st quarter valued at approximately $2,190,000. Frank Rimerman Advisors LLC lifted its holdings in shares of Target by 7.8% in the 1st quarter. Frank Rimerman Advisors LLC now owns 6,352 shares of the retailer's stock worth $770,000 after acquiring an additional 458 shares during the last quarter. Virginia Wealth Management Group Inc. lifted its holdings in shares of Target by 108.7% in the 1st quarter. Virginia Wealth Management Group Inc. now owns 40,010 shares of the retailer's stock worth $4,849,000 after acquiring an additional 20,836 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its position in shares of Target by 36.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 9,322 shares of the retailer's stock worth $1,130,000 after purchasing an additional 2,514 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm'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 value of $1,258,900.00. Following the sale, the insider owned 45,930 shares of the company's stock, valued at $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Freedom Capital downgraded shares of Target from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 20th. Evercore set a $130.00 price target on Target in a research report on Monday, May 18th. JPMorgan Chase & Co. lifted their price objective on Target from $120.00 to $129.00 and gave the company a "neutral" rating in a research note on Friday, May 15th. Wells Fargo & Company boosted their price objective on Target from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Finally, Barclays reissued an "underweight" rating on shares of Target in a research note on Monday, June 1st. Twelve analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Target presently has a consensus rating of "Hold" and an average price target of $130.64.

Target Stock Up 2.0%

Shares of NYSE TGT traded up $2.67 during mid-day trading on Friday, hitting $134.94. The company had a trading volume of 3,403,029 shares, compared to its average volume of 4,556,986. The company has a market capitalization of $61.29 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.64 and a beta of 0.98. The business's 50-day simple moving average is $128.40 and its 200 day simple moving average is $118.99. Target Corporation has a 1-year low of $83.44 and a 1-year high of $142.82. 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 (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping the consensus estimate of $1.47 by $0.24. The firm had revenue of $25.44 billion during the quarter, compared to analysts' expectations of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.Target's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, analysts predict that Target Corporation will post 8.35 earnings per share for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This is a positive change from Target's previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.4%. Target's payout ratio is currently 60.24%.

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.

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corporation (NYSE:TGT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.