Target Corporation $TGT Stake Boosted by Islay Capital Management LLC

Key Points

• Islay Capital Management LLC significantly increased its stake in Target Corporation by 335.6% during the first quarter, bringing their total holdings to 13,582 shares valued at approximately $1.42 million.
• Various institutional investors have been active in Target, with Ally Financial Inc. increasing their stake by 72.7%, raising their holdings to 38,000 shares valued at around $3.97 million.
• Target reported earnings of $2.05 per share for the last quarter, slightly exceeding analysts' estimates, despite a year-over-year revenue decline of 0.9% to $24.99 billion.

Islay Capital Management LLC grew its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 335.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,582 shares of the retailer's stock after purchasing an additional 10,464 shares during the quarter. Islay Capital Management LLC's holdings in Target were worth $1,417,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Ally Financial Inc. grew its holdings in shares of Target by 72.7% during the first quarter. Ally Financial Inc. now owns 38,000 shares of the retailer's stock valued at $3,966,000 after purchasing an additional 16,000 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Target by 38.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 20,046 shares of the retailer's stock valued at $2,092,000 after purchasing an additional 5,522 shares during the last quarter. Kamunting Street Capital Management L.P. bought a new position in shares of Target during the first quarter valued at approximately $9,653,000. Synovus Financial Corp grew its holdings in Target by 4.6% in the 1st quarter. Synovus Financial Corp now owns 36,239 shares of the retailer's stock worth $3,782,000 after buying an additional 1,579 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Target in the 1st quarter worth approximately $1,399,000. 79.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TGT shares. Bank of America reiterated an "underperform" rating and set a $93.00 price target (down previously from $105.00) on shares of Target in a research report on Friday, August 15th. Truist Financial upped their price objective on shares of Target from $90.00 to $107.00 and gave the stock a "hold" rating in a report on Wednesday, August 13th. DA Davidson lowered their target price on shares of Target from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Telsey Advisory Group restated a "market perform" rating and set a $110.00 price target on shares of Target in a research report on Wednesday. Finally, Guggenheim reaffirmed a "buy" rating and issued a $115.00 price target on shares of Target in a research note on Thursday. Ten research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Target presently has an average rating of "Hold" and a consensus price target of $113.74.

Target Stock Performance

Shares of NYSE TGT opened at $98.9880 on Friday. The stock has a fifty day moving average price of $102.06 and a two-hundred day moving average price of $103.64. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.99. The firm has a market cap of $44.98 billion, a P/E ratio of 11.54, a PEG ratio of 2.86 and a beta of 1.22. Target Corporation has a 1 year low of $87.35 and a 1 year high of $161.84.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. The firm had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company posted $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.5%. Target's dividend payout ratio (DPR) is currently 53.15%.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the sale, the insider directly owned 246,453 shares of the company's stock, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.

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