Target Corporation $TGT Stock Purchased by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its Target position by 25.4% in the second quarter, adding 191,030 shares to reach 941,917 shares valued at approximately $123 million. Institutional investors collectively own 79.73% of Target.
• Target reported strong quarterly results, with earnings of $4.11 per share versus the $2.35 consensus estimate and revenue of $26.54 billion, up 5.3% year over year.
• Analysts maintain a consensus “Hold” rating with a $159.52 target price, while Target announced a quarterly dividend of $1.16 per share, representing a 2.9% annualized yield.

Envestnet Asset Management Inc. increased its position in Target Corporation (NYSE:TGT - Free Report) by 25.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 941,917 shares of the retailer's stock after purchasing an additional 191,030 shares during the period. Envestnet Asset Management Inc. owned approximately 0.21% of Target worth $123,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Target in the second quarter worth approximately $5,054,604,000. Bank of New York Mellon Corp bought a new stake in shares of Target during the second quarter valued at approximately $831,466,000. Norges Bank bought a new stake in Target in the 4th quarter valued at $587,903,000. Jupiter Topco LLC bought a new position in shares of Target during the 2nd quarter valued at approximately $320,006,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Target by 6,639.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,912,963 shares of the retailer's stock valued at $186,992,000 after acquiring an additional 1,884,577 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings upgraded Target from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 31st. Barclays upped their price objective on Target from $115.00 to $140.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 19th. Wells Fargo & Company raised their price objective on shares of Target from $165.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, August 20th. DA Davidson upped their target price on shares of Target from $170.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $154.00 price objective on shares of Target in a research report on Thursday, August 20th. Eleven 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. Based on data from MarketBeat.com, Target currently has a consensus rating of "Hold" and a consensus target price of $159.52.

Target Price Performance

Target stock opened at $157.32 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99. Target Corporation has a one year low of $83.44 and a one year high of $170.75. The business has a fifty day moving average of $154.29 and a two-hundred day moving average of $135.91. The company has a market cap of $71.47 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, topping the consensus estimate of $2.35 by $1.76. The company had revenue of $26.54 billion for 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 firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, analysts predict that Target Corporation will post 8.85 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 11th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, November 10th. Target's payout ratio is presently 48.18%.

Insider Buying and Selling at Target

In related news, insider Melissa K. Kremer sold 15,500 shares of the stock in a transaction dated 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 sale, the insider directly owned 56,981 shares of the company's stock, 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 is available at this hyperlink. Also, CAO Matthew A. Liegel sold 926 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the transaction, the chief accounting officer owned 12,266 shares of the company's stock, valued at $2,005,613.66. This trade represents a 7.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.13% of the stock is currently owned by corporate insiders.

Target 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.

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