Wellington Management Group LLP Buys 29,204 Shares of Target Corporation $TGT

Key Points

• Wellington Management increased its Target stake by 17.1% in the second quarter, acquiring 29,204 shares and bringing its holdings to 200,413 shares valued at approximately $26.2 million.
• Target reported quarterly earnings of $4.11 per share, far exceeding the $2.35 analyst estimate, while revenue rose 5.3% year over year to $26.54 billion. The company issued fiscal 2026 EPS guidance of $9.90 to $10.90.
• Target raised its quarterly dividend to $1.16 per share, or $4.64 annually, representing a 2.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $159.52.

Wellington Management Group LLP lifted its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 17.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 200,413 shares of the retailer's stock after acquiring an additional 29,204 shares during the quarter. Wellington Management Group LLP's holdings in Target were worth $26,176,000 at the end of the most recent reporting period.

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

Target Price Performance

Shares of NYSE TGT opened at $164.15 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. The firm has a fifty day moving average of $146.84 and a 200 day moving average of $131.57. The firm has a market cap of $74.57 billion, a PE ratio of 17.05, a PEG ratio of 3.06 and a beta of 0.99. Target Corporation has a one year low of $83.44 and a one year high of $170.75.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 23.23% and a net margin of 4.08%.The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 EPS. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, research analysts predict that Target Corporation will post 8.85 EPS for the current fiscal year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th were issued a dividend of $1.16 per share. The ex-dividend date was Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 2.8%. This is an increase from Target's previous quarterly dividend of $1.14. Target's payout ratio is presently 48.18%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TGT. Morgan Stanley reiterated an "overweight" rating on shares of Target in a research note on Thursday, August 20th. Telsey Advisory Group boosted their target price on shares of Target from $170.00 to $182.00 and gave the stock an "outperform" rating in a research report on Thursday, August 20th. Roth Capital restated a "neutral" rating and set a $142.00 price target on shares of Target in a research note on Thursday, August 20th. Wall Street Zen upgraded Target from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, KeyCorp restated a "sector weight" rating on shares of Target in a research note on Thursday, August 20th. Eleven equities 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $159.52.

Insider Activity at Target

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

About Target

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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