Target Corporation $TGT Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management increased its Target stake by 12.9% in the second quarter, adding 514,155 shares to own approximately 0.99% of the company. Institutional investors collectively hold 79.73% of Target’s stock.
• Target reported quarterly EPS of $4.11, well above the $2.35 analyst consensus, while revenue rose 5.3% year over year to $26.54 billion. The company also raised its quarterly dividend to $1.16 per share, representing a 2.8% yield.
• Analyst sentiment remains mixed, with 11 Buy, 18 Hold and three Sell ratings; the average price target is $159.52. Shares opened at $163.14, near the company’s one-year high of $170.75.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Target Corporation (NYSE:TGT - Free Report) by 12.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,514,522 shares of the retailer's stock after purchasing an additional 514,155 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.99% of Target worth $589,642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Target in the 2nd quarter worth about $5,054,604,000. Bank of New York Mellon Corp acquired a new position in shares of Target during the second quarter valued at approximately $831,466,000. Norges Bank acquired a new position in shares of Target during the fourth quarter valued at approximately $587,903,000. TOMS Capital Investment Management LP purchased a new position in shares of Target in the fourth quarter valued at approximately $257,571,000. Finally, Jupiter Topco LLC purchased a new position in shares of Target in the second quarter valued at approximately $320,006,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analysts Set New Price Targets

TGT has been the subject of several research reports. Freedom Capital cut Target from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 20th. Mizuho set a $150.00 price objective on Target in a report on Thursday, August 20th. Piper Sandler lifted their target price on shares of Target from $146.00 to $153.00 and gave the stock a "neutral" rating in a research note on Thursday, August 20th. UBS Group upped their target price on shares of Target from $166.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Finally, Guggenheim increased their target price on shares of Target from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Eleven equities research 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 MarketBeat, the stock has an average rating of "Hold" and an average price target of $159.52.

Target Price Performance

NYSE:TGT opened at $163.14 on Monday. Target Corporation has a one year low of $83.44 and a one year high of $170.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99. The stock has a market cap of $74.10 billion, a PE ratio of 16.94, a P/E/G ratio of 3.04 and a beta of 0.96. The stock has a 50 day moving average price of $144.21 and a 200 day moving average price of $129.96.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, topping analysts' consensus estimates of $2.35 by $1.76. The firm had revenue of $26.54 billion for 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%.The firm's revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Equities research analysts expect that Target Corporation will post 8.84 EPS 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 given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.8%. 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 dividend payout ratio is presently 48.18%.

Insider Activity

In related news, CAO Matthew A. Liegel sold 926 shares of the company's stock in a transaction dated Friday, August 21st. The shares were 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 owned 12,266 shares of the company's stock, valued at approximately $2,005,613.66. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Melissa K. Kremer sold 15,500 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the sale, the insider owned 56,981 shares of the company's stock, valued at approximately $9,684,490.76. The trade was a 21.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.13% of the company's stock.

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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