Target Corporation $TGT Shares Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP increased its Target stake by 1,520.8% in the second quarter, purchasing 135,690 additional shares for a total holding of 144,612 shares valued at approximately $18.9 million.
• Institutional ownership remains high at 79.73%, with major investors including California State Teachers Retirement System, BlackRock, Bank of New York Mellon and Norges Bank adding or establishing positions.
• Target reported strong quarterly results, with EPS of $4.11 versus the $2.35 consensus and revenue up 5.3% year over year to $26.54 billion. Analysts maintain a consensus “Hold” rating with a $159.52 price target.

Corient Private Wealth LP raised its holdings in Target Corporation (NYSE:TGT - Free Report) by 1,520.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 144,612 shares of the retailer's stock after buying an additional 135,690 shares during the quarter. Corient Private Wealth LP's holdings in Target were worth $18,888,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TGT. California State Teachers Retirement System increased its holdings in shares of Target by 13,417.6% in the second quarter. California State Teachers Retirement System now owns 91,340,014 shares of the retailer's stock valued at $11,929,919,000 after purchasing an additional 90,664,304 shares during the period. BlackRock Inc. purchased a new stake in Target in the second quarter valued at approximately $5,054,604,000. Bank of New York Mellon Corp acquired a new position in Target in the 2nd quarter worth approximately $831,466,000. Norges Bank purchased a new position in Target during the 4th quarter worth approximately $587,903,000. Finally, Jupiter Topco LLC acquired a new stake in Target during the 2nd quarter valued at approximately $320,006,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TGT. Evercore set a $170.00 target price on shares of Target in a research report on Thursday, August 20th. Argus set a $150.00 target price on Target in a research note on Friday, May 22nd. The Goldman Sachs Group increased their target price on Target from $127.00 to $161.00 and gave the company a "neutral" rating in a research report on Thursday, August 20th. Wall Street Zen raised shares of Target from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 5th. Finally, Robert W. Baird set a $170.00 price objective on Target in a research note on Thursday, August 20th. Eleven analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $159.52.

Insider Activity

In other Target news, CAO Matthew Liegel sold 926 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $163.51, for a total value of $151,410.26. Following the transaction, the chief accounting officer directly owned 12,266 shares in the company, valued at $2,005,613.66. The trade was a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Melissa Kremer sold 15,500 shares of the stock in a transaction that occurred 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 sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.13% of the company's stock.

Target Stock Up 2.0%

Shares of TGT opened at $158.90 on Tuesday. Target Corporation has a 52-week low of $83.44 and a 52-week high of $170.75. 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 fifty day simple moving average of $150.31 and a two-hundred day simple moving average of $133.53. The company has a market capitalization of $72.19 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.90 and a beta of 0.99.

Target (NYSE:TGT - Get Free Report) last announced 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 firm had revenue of $26.54 billion for the quarter, compared to analysts' expectations of $26.13 billion. During the same quarter in the previous year, the company posted $2.05 EPS. The company's revenue was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, equities analysts forecast that Target Corporation will post 8.85 EPS for the current year.

About Target

Target Corporation is a general merchandise retailer that operates stores and digital shopping channels across the United States. Its assortment includes apparel and accessories, beauty products, home furnishings and décor, electronics, toys, sporting goods, household essentials, groceries and other everyday merchandise.

Target offers a combination of in-store and digital services, including order pickup, Drive Up and same-day delivery through Shipt. The company also develops and sells a broad portfolio of owned brands, while offering national-brand products and merchandise through a range of seasonal and specialty categories.

The company traces its history to the Dayton Company, founded in Minneapolis in 1902.

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