Target Corporation $TGT Shares Bought by Park Avenue Securities LLC

Key Points

• Park Avenue Securities increased its Target stake by 37.1% in the third quarter, purchasing 7,977 additional shares and bringing its holdings to 29,479 shares valued at approximately $4.6 million. Institutional investors and hedge funds collectively own 79.73% of Target.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $159.33. UBS and Guggenheim raised their targets to $185 and $175, respectively, while other firms maintained neutral ratings.
• Target reported quarterly earnings of $4.11 per share, substantially exceeding the $2.35 consensus estimate, while revenue rose 5.3% year over year to $26.54 billion. The company also declared a quarterly dividend of $1.16 per share, representing a 3.1% annualized yield.

Park Avenue Securities LLC increased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 37.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,479 shares of the retailer's stock after purchasing an additional 7,977 shares during the quarter. Park Avenue Securities LLC's holdings in Target were worth $4,619,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TGT. Washington Trust Advisors Inc. grew its stake in shares of Target by 28.5% during the third quarter. Washington Trust Advisors Inc. now owns 293 shares of the retailer's stock worth $46,000 after buying an additional 65 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of Target by 4.1% during the second quarter. E Fund Management Co. Ltd. now owns 1,747 shares of the retailer's stock worth $228,000 after buying an additional 68 shares in the last quarter. Avior Wealth Management LLC lifted its stake in shares of Target by 3.5% in the 3rd quarter. Avior Wealth Management LLC now owns 2,173 shares of the retailer's stock valued at $341,000 after acquiring an additional 73 shares during the last quarter. Wynn Capital LLC lifted its stake in shares of Target by 0.9% in the 2nd quarter. Wynn Capital LLC now owns 8,455 shares of the retailer's stock valued at $1,104,000 after acquiring an additional 79 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of Target by 0.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 16,069 shares of the retailer's stock valued at $2,518,000 after acquiring an additional 79 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Melissa K. Kremer sold 15,500 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $169.96, for a total value of $2,634,380.00. Following the sale, the insider directly owned 56,981 shares in the company, valued at $9,684,490.76. This represents a 21.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 926 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the sale, the chief accounting officer directly owned 12,266 shares of the company's stock, valued at $2,005,613.66. This represents a 7.02% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

TGT has been the topic of a number of research reports. Morgan Stanley restated an "overweight" rating on shares of Target in a research report on Thursday, August 20th. UBS Group increased their target price on Target from $166.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Guggenheim increased their target price on Target from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Piper Sandler lifted their price target on Target from $146.00 to $153.00 and gave the company a "neutral" rating in a research note on Thursday, August 20th. Finally, Roth Capital restated a "neutral" rating and set a $142.00 price target on shares of Target in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $159.33.

Target Price Performance

Shares of NYSE:TGT opened at $151.80 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99. Target Corporation has a 52 week low of $83.44 and a 52 week high of $170.75. The firm has a market cap of $68.96 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 2.76 and a beta of 0.98. The firm's fifty day moving average is $157.21 and its 200-day moving average is $133.57.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $26.54 billion during the quarter, compared to the consensus estimate of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%. Target's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Sell-side analysts predict that Target Corporation will post 8.89 earnings per share for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Wednesday, November 11th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $4.64 annualized dividend and a dividend yield of 3.1%. Target's dividend payout ratio is presently 48.18%.

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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