Target Corporation $TGT Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its position in Target Corporation (NYSE:TGT) by 329.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 40,232 shares of the retailer’s stock after acquiring an additional 30,860 shares during the quarter. Ritholtz Wealth Management’s holdings in Target were worth $6,304,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Nicholas Investment Partners LP grew its position in Target by 204.3% in the 2nd quarter. Nicholas Investment Partners LP now owns 55,154 shares of the retailer’s stock valued at $7,204,000 after purchasing an additional 37,030 shares during the period. Saudi Central Bank increased its stake in Target by 89.7% during the 2nd quarter. Saudi Central Bank now owns 31,700 shares of the retailer’s stock valued at $4,140,000 after purchasing an additional 14,986 shares in the last quarter. Engineers Gate Manager LP increased its stake in Target by 4,119.2% during the 2nd quarter. Engineers Gate Manager LP now owns 372,558 shares of the retailer’s stock valued at $48,660,000 after purchasing an additional 363,728 shares in the last quarter. Neumann Capital Management LLC acquired a new position in Target during the third quarter worth $2,457,000. Finally, Two Sigma Securities LLC acquired a new position in Target during the second quarter worth $833,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TGT shares. Barclays raised their price objective on shares of Target from $115.00 to $140.00 and gave the company an “underweight” rating in a research note on Wednesday, August 19th. Evercore set a $165.00 target price on shares of Target in a research report on Tuesday, October 13th. Morgan Stanley reissued an “overweight” rating and set a $150.00 target price (up from $145.00) on shares of Target in a research report on Thursday, August 20th. Sanford C. Bernstein restated a “market perform” rating and issued a $154.00 target price (up from $135.00) on shares of Target in a report on Thursday, August 20th. Finally, BMO Capital Markets raised their price target on shares of Target from $150.00 to $160.00 and gave the company a “market perform” rating in a research report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Target currently has an average rating of “Hold” and a consensus price target of $162.37.

Target Price Performance

Shares of NYSE:TGT opened at $160.91 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80. The stock has a market cap of $73.10 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.90 and a beta of 0.94. The stock’s fifty day simple moving average is $156.41 and its two-hundred day simple moving average is $136.16. Target Corporation has a 1-year low of $83.44 and a 1-year high of $170.75.

Target (NYSE:TGT) last posted its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $26.13 billion. During the same quarter in the prior year, the business posted $2.05 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, analysts forecast that Target Corporation will post 8.91 EPS for the current fiscal year.

Target Announces Dividend

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

Insider Activity

In other Target news, CAO Matthew A. Liegel sold 926 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $163.51, for a total value of $151,410.26. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Melissa K. Kremer sold 15,500 shares of Target stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the transaction, the insider directly owned 56,981 shares in the company, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their position. The SEC filing for this sale provides additional information. 0.13% of the stock is currently owned by insiders.

About Target

Target Corporation is a U.S. general merchandise retailer that sells products through its stores and digital channels. Its assortment includes apparel and accessories, beauty products, home goods, groceries, electronics, toys, and household essentials, along with merchandise from national brands and Target-owned brands. The company also offers services such as in-store and curbside order pickup and same-day delivery in eligible areas. Target serves customers across the United States. The company traces its history to the Dayton Dry Goods Company, founded in Minneapolis in 1902.