Target Corporation $TGT Shares Bought by Virginia Wealth Management Group Inc.

Key Points

• Virginia Wealth Management Group more than doubled its Target stake in Q1, increasing holdings by 108.7% to 40,010 shares valued at about $4.85 million.
• Target reported better-than-expected quarterly results, with EPS of $1.71 versus $1.47 expected and revenue of $25.44 billion, up 6.7% year over year.
• The retailer also raised its quarterly dividend to $1.16 per share, implying a 3.6% annualized yield, while analysts’ consensus rating remains Hold with an average price target of $130.64.

Virginia Wealth Management Group Inc. grew its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 108.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,010 shares of the retailer's stock after purchasing an additional 20,836 shares during the period. Target makes up 2.6% of Virginia Wealth Management Group Inc.'s portfolio, making the stock its 15th biggest holding. Virginia Wealth Management Group Inc.'s holdings in Target were worth $4,849,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WFA of San Diego LLC acquired a new stake in Target during the second quarter valued at approximately $25,000. Jessup Wealth Management Inc acquired a new position in Target in the fourth quarter worth approximately $25,000. Altshuler Shaham Ltd bought a new position in shares of Target in the fourth quarter valued at $26,000. Global Wealth Strategies & Associates increased its holdings in shares of Target by 192.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer's stock valued at $29,000 after buying an additional 192 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Target during the 4th quarter valued at $30,000. 79.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the company's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the transaction, the insider directly owned 45,930 shares of the company's stock, valued at $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TGT shares. Evercore set a $130.00 target price on Target in a report on Monday, May 18th. Guggenheim upped their target price on Target from $140.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 12th. Argus set a $150.00 price target on Target in a research report on Friday, May 22nd. JPMorgan Chase & Co. lifted their price target on Target from $120.00 to $129.00 and gave the stock a "neutral" rating in a research note on Friday, May 15th. Finally, DA Davidson boosted their price objective on Target from $140.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, May 21st. Twelve investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $130.64.

Target Stock Performance

Shares of TGT opened at $127.55 on Wednesday. The company has a market capitalization of $57.93 billion, a PE ratio of 16.85, a PEG ratio of 2.46 and a beta of 0.98. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. The company's 50 day moving average price is $128.10 and its 200 day moving average price is $118.40. Target Corporation has a 52 week low of $83.44 and a 52 week high of $142.82.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The company had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. During the same quarter last year, the business posted $1.30 EPS. The company's revenue for the quarter was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Research analysts expect that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.6%. This is an increase from Target's previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. Target's dividend payout ratio is presently 60.24%.

Target Company 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.

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.