Target Corporation $TGT Shares Purchased by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners sharply increased its Target stake by 774.5% in the first quarter, ending with 35,127 shares valued at about $4.26 million.
• Target reported stronger-than-expected quarterly results, with EPS of $1.71 and revenue of $25.44 billion, both beating analyst estimates. The company also raised its full-year guidance outlook.
• Target announced a higher quarterly dividend of $1.16 per share, up from $1.14, implying an annualized yield of 3.6%. Meanwhile, analysts remain cautious overall, with a consensus rating of Hold and an average price target of $130.64.

Elevation Point Wealth Partners LLC grew its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 774.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,127 shares of the retailer's stock after buying an additional 31,110 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Target were worth $4,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Sharp Wealth Advisory LLC raised its stake in shares of Target by 3.7% in the 1st quarter. Sharp Wealth Advisory LLC now owns 4,250 shares of the retailer's stock worth $515,000 after buying an additional 150 shares in the last quarter. Platform Technology Partners raised its holdings in shares of Target by 3.4% during the first quarter. Platform Technology Partners now owns 3,720 shares of the retailer's stock valued at $451,000 after acquiring an additional 122 shares during the period. Blue Capital Inc. purchased a new stake in shares of Target in the 1st quarter valued at approximately $243,000. Keybank National Association OH lifted its position in shares of Target by 1.7% in the 1st quarter. Keybank National Association OH now owns 153,345 shares of the retailer's stock valued at $18,585,000 after acquiring an additional 2,542 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC boosted its stake in Target by 12.7% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 17,784 shares of the retailer's stock worth $2,155,000 after purchasing an additional 2,001 shares during the period. Institutional investors and hedge funds own 79.73% of the company's stock.

Insider Activity at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the company's stock in a transaction dated 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. The trade was a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Guggenheim increased their price objective on Target from $140.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, June 12th. Evercore set a $130.00 price target on Target in a research note on Monday, May 18th. Jefferies Financial Group boosted their target price on shares of Target from $140.00 to $161.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. Telsey Advisory Group increased their price objective on Target from $148.00 to $150.00 and gave the company an "outperform" rating in a report on Thursday, May 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $123.00 target price on shares of Target in a research note on Friday, May 15th. Twelve investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $130.64.

Target Price Performance

Shares of Target stock opened at $130.31 on Friday. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $142.82. The company has a market cap of $59.19 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.54 and a beta of 0.98. The firm has a fifty day moving average price of $128.22 and a two-hundred day moving average price of $117.85. 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 issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.24. The firm had revenue of $25.44 billion for the quarter, compared to analyst estimates of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Analysts expect that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The firm also recently disclosed 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 represents a $4.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Target's previous quarterly dividend of $1.14. Target's payout ratio is 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.

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