Target Corporation $TGT Shares Purchased by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its Target stake by 4,119.2% in the second quarter, acquiring 363,728 additional shares and bringing its total holdings to 372,558 shares worth approximately $48.7 million.
• Target reported strong quarterly results, with EPS of $4.11 versus the $2.35 consensus estimate and revenue of $26.54 billion, up 5.3% year over year. The company also raised its quarterly dividend to $1.16 per share.
• Analyst sentiment remains mixed: Target has a consensus “Hold” rating and an average price target of $159.52, while the stock recently opened at $162.68.

Engineers Gate Manager LP increased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 4,119.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 372,558 shares of the retailer's stock after buying an additional 363,728 shares during the period. Target comprises 0.6% of Engineers Gate Manager LP's portfolio, making the stock its 15th largest holding. Engineers Gate Manager LP owned 0.08% of Target worth $48,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TGT. WFA of San Diego LLC purchased a new stake in shares of Target during the 2nd quarter worth approximately $25,000. Jessup Wealth Management Inc acquired a new position in Target during the fourth quarter worth $25,000. Richardson Financial Services Inc. purchased a new stake in Target during the second quarter worth $26,000. Kimelman & Baird LLC acquired a new position in shares of Target during the 2nd quarter worth $26,000. Finally, Altshuler Shaham Ltd acquired a new position in Target during the fourth quarter worth about $26,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

Shares of NYSE TGT opened at $162.68 on Wednesday. Target Corporation has a 1-year low of $83.44 and a 1-year high of $170.75. The firm has a market capitalization of $73.91 billion, a PE ratio of 16.89, a P/E/G ratio of 3.06 and a beta of 0.99. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36. The business's fifty day moving average price is $148.09 and its two-hundred day moving average price is $132.35.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, topping the consensus estimate of $2.35 by $1.76. The business had revenue of $26.54 billion during the quarter, compared to analyst estimates of $26.13 billion. Target had a net margin of 4.08% and a return on equity of 23.23%. The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, research analysts expect that Target Corporation will post 8.85 EPS for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th were paid 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 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, August 12th. Target's dividend payout ratio (DPR) is 48.18%.

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 shares were sold at an average price of $169.96, for a total value of $2,634,380.00. Following the completion of the sale, the insider owned 56,981 shares in the company, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 926 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $163.51, for a total value of $151,410.26. Following the completion of the sale, the chief accounting officer directly owned 12,266 shares of the company's stock, valued at approximately $2,005,613.66. This trade represents a 7.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Target from $127.00 to $161.00 and gave the stock a "neutral" rating in a report on Thursday, August 20th. Guggenheim lifted their price target on shares of Target from $150.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, August 20th. BMO Capital Markets boosted their price objective on Target from $150.00 to $160.00 and gave the stock a "market perform" rating in a research note on Thursday, August 20th. DA Davidson upped their price objective on shares of Target from $170.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Finally, Royal Bank Of Canada upped their price target on shares of Target from $166.00 to $178.00 and gave the company an "outperform" rating in a report on Thursday, August 20th. Eleven research 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. Based on data from MarketBeat, Target has a consensus rating of "Hold" and an average target price of $159.52.

Target Company Profile

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.

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corporation (NYSE:TGT - Free Report).

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.