Y Intercept Hong Kong Ltd Invests $9.16 Million in Target Corporation $TGT

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Target, buying 93,724 shares valued at about $9.16 million in the fourth quarter.
• Target reported strong quarterly results, with EPS of $1.71 beating estimates and revenue of $25.44 billion topping expectations, while sales rose 6.7% year over year.
• The company also raised its quarterly dividend to $1.16 per share, and several analysts have recently increased their price targets on the stock, though the consensus rating remains Hold.

Y Intercept Hong Kong Ltd acquired a new position in shares of Target Corporation (NYSE:TGT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 93,724 shares of the retailer's stock, valued at approximately $9,162,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Target by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer's stock worth $5,690,262,000 after buying an additional 286,499 shares during the last quarter. State Street Corp lifted its position in shares of Target by 2.5% during the 3rd quarter. State Street Corp now owns 37,648,065 shares of the retailer's stock worth $3,377,031,000 after buying an additional 911,964 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Target by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer's stock worth $605,507,000 after buying an additional 142,937 shares during the last quarter. Norges Bank purchased a new stake in shares of Target during the 4th quarter worth approximately $587,903,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Target by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,051,151 shares of the retailer's stock worth $453,050,000 after buying an additional 122,300 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Stock Up 2.0%

TGT stock opened at $135.29 on Friday. The company has a fifty day moving average price of $125.42 and a 200 day moving average price of $113.50. Target Corporation has a 12 month low of $83.44 and a 12 month high of $136.14. The company has a market cap of $61.45 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 2.59 and a beta of 1.00. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The firm had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. Target's revenue for the quarter was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Sell-side analysts expect that Target Corporation will post 8.35 earnings per share for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a yield of 3.4%. This is an increase from Target's previous quarterly dividend of $1.14. Target's dividend payout ratio is presently 60.24%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TGT shares. Citigroup boosted their price objective on shares of Target from $117.00 to $133.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. UBS Group upped their price target on shares of Target from $130.00 to $144.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Wall Street Zen upgraded shares of Target from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Royal Bank Of Canada upped their price target on shares of Target from $132.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. Finally, Oppenheimer upped their price target on shares of Target from $130.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, March 4th. Eleven analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Target presently has an average rating of "Hold" and an average target price of $126.11.

Insider Buying and Selling at Target

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the business's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the transaction, the insider directly owned 45,930 shares of the company's stock, valued at approximately $5,782,127.70. The trade was a 17.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 2,053 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total transaction of $240,591.07. Following the completion of the transaction, the chief accounting officer directly owned 12,143 shares in the company, valued at $1,423,038.17. This represents a 14.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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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