Target Corporation $TGT Shares Bought by Flputnam Investment Management Co.

Flputnam Investment Management Co. lifted its position in shares of Target Corporation (NYSE:TGT - Free Report) by 470.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,512 shares of the retailer's stock after acquiring an additional 29,282 shares during the period. Flputnam Investment Management Co.'s holdings in Target were worth $4,638,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TGT. BlackRock Inc. acquired a new stake in shares of Target during the second quarter worth $5,054,604,000. State Street Corp boosted 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 buying an additional 124,468 shares during the period. Charles Schwab Investment Management Inc. grew 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 buying an additional 561,898 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Target during the 2nd quarter valued at about $831,466,000. Finally, Franklin Resources Inc. raised its stake in Target by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer's stock worth $605,507,000 after acquiring an additional 142,937 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TGT. Piper Sandler increased their price target on Target from $146.00 to $153.00 and gave the stock a "neutral" rating in a research report on Thursday, August 20th. Roth Capital restated a "neutral" rating and set a $142.00 price objective on shares of Target in a research note on Thursday, August 20th. Argus set a $150.00 target price on Target in a research report on Friday, May 22nd. Wall Street Zen upgraded Target from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Finally, The Goldman Sachs Group boosted their price target on shares of Target from $127.00 to $161.00 and gave the company a "neutral" rating in a report on Thursday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $159.52.

Insider Buying and Selling

In other Target news, insider Melissa K. Kremer sold 15,500 shares of Target 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 transaction, the insider directly owned 56,981 shares in the company, valued at approximately $9,684,490.76. The trade was a 21.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 926 shares of the company's stock in a transaction on 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 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 Price Performance

Shares of NYSE:TGT opened at $163.14 on Monday. The stock has a market cap of $74.10 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 3.04 and a beta of 0.96. 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. The stock's 50 day moving average price is $144.21 and its 200 day moving average price is $129.96.

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 analysts' consensus estimates of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The company had revenue of $26.54 billion during the quarter, compared to the consensus estimate of $26.13 billion. During the same period in the prior year, the company earned $2.05 EPS. Target's revenue 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 anticipate that Target Corporation will post 8.84 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. This is an increase from Target's previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, August 12th. Target's dividend payout ratio (DPR) is presently 48.18%.

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.

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