Pzena Investment Management LLC purchased a new stake in Target Corporation (NYSE:TGT – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 373,503 shares of the retailer’s stock, valued at approximately $48,783,000. Pzena Investment Management LLC owned approximately 0.08% of Target as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Citizens Financial Group Inc. RI purchased a new stake in Target in the second quarter valued at approximately $1,585,000. Pavion Blue Capital LLC bought a new stake in Target during the second quarter valued at approximately $600,000. Grandfield & Dodd LLC purchased a new position in Target in the 2nd quarter worth approximately $593,000. Auxano Advisors LLC purchased a new position in Target in the 2nd quarter worth approximately $396,000. Finally, MidFirst Bank bought a new position in shares of Target in the 2nd quarter worth $49,000. Institutional investors own 79.73% of the company’s stock.
Wall Street Analyst Weigh In
TGT has been the topic of several research reports. Truist Financial raised their price objective on shares of Target from $130.00 to $147.00 and gave the company a “hold” rating in a research report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Target in a research report on Friday, July 31st. UBS Group increased their target price on Target from $144.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wolfe Research set a $169.00 price target on Target in a research report on Monday, August 3rd. Finally, Telsey Advisory Group lifted their price target on Target from $150.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $143.85.
Target Stock Down 2.3%
Shares of NYSE TGT opened at $150.94 on Tuesday. The stock has a market capitalization of $68.56 billion, a P/E ratio of 19.94, a PEG ratio of 2.51 and a beta of 0.96. Target Corporation has a one year low of $83.44 and a one year high of $156.47. The firm’s 50 day simple moving average is $138.56 and its two-hundred day simple moving average is $126.62. 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 announced its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. The firm had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, analysts expect that Target Corporation will post 8.4 EPS for the current fiscal year.
Target Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, August 12th. This is a boost from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is 61.29%.
Insiders Place Their Bets
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 completion of the sale, the insider directly owned 45,930 shares of the company’s stock, valued at $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is owned by corporate insiders.
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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