Jupiter Topco LLC Makes New $320.01 Million Investment in Target Corporation $TGT

Jupiter Topco LLC bought a new position in shares of Target Corporation (NYSE:TGT) in the 2nd quarter, Holdings Channel reports. The fund bought 2,450,125 shares of the retailer’s stock, valued at approximately $320,006,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. EFG International AG increased its position in Target by 227.0% in the 2nd quarter. EFG International AG now owns 31,597 shares of the retailer’s stock valued at $4,126,000 after acquiring an additional 21,935 shares during the period. Nicholas Investment Partners LP raised its stake in Target by 204.3% during the 2nd quarter. Nicholas Investment Partners LP now owns 55,154 shares of the retailer’s stock valued at $7,204,000 after acquiring an additional 37,030 shares during the last quarter. Kinloch Capital LLC lifted its position in Target by 25.2% during the 2nd quarter. Kinloch Capital LLC now owns 42,510 shares of the retailer’s stock worth $5,552,000 after acquiring an additional 8,554 shares during the period. Jones Financial Companies Lllp lifted its position in Target by 2.2% during the 2nd quarter. Jones Financial Companies Lllp now owns 342,773 shares of the retailer’s stock worth $48,051,000 after acquiring an additional 7,529 shares during the period. Finally, Fiduciary Financial Advisors purchased a new position in shares of Target in the 2nd quarter valued at approximately $71,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the transaction, the insider directly owned 45,930 shares of the company’s stock, valued at $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 926 shares of Target stock in a transaction on Friday, August 21st. The stock was sold at an average price of $163.51, for a total value of $151,410.26. Following the transaction, the chief accounting officer directly owned 12,266 shares of the company’s stock, valued at approximately $2,005,613.66. This represents a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.13% of the company’s stock.

Target Stock Down 3.9%

Shares of NYSE TGT opened at $163.20 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. Target Corporation has a 52 week low of $83.44 and a 52 week high of $170.75. The firm has a 50-day moving average price of $142.15 and a 200 day moving average price of $128.90. The stock has a market capitalization of $74.12 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 3.15 and a beta of 0.97.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The firm had revenue of $26.54 billion for the quarter, compared to the consensus estimate of $26.13 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Equities research analysts anticipate that Target Corporation will post 8.88 EPS for the current fiscal year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be issued a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis 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 currently 48.18%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TGT shares. Weiss Ratings reissued a “hold (c)” rating on shares of Target in a report on Friday, July 31st. The Goldman Sachs Group lifted their price objective on shares of Target from $127.00 to $161.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Telsey Advisory Group increased their target price on Target from $170.00 to $182.00 and gave the stock an “outperform” rating in a research note on Thursday, August 20th. Piper Sandler raised their price target on Target from $146.00 to $153.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Finally, Zacks Research cut Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. Eleven research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $159.52.

Target Company 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.