Cinctive Capital Management LP Has $10.38 Million Stock Position in Target Corporation $TGT

Cinctive Capital Management LP grew its position in Target Corporation (NYSE:TGT) by 324.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 106,217 shares of the retailer’s stock after acquiring an additional 81,217 shares during the period. Cinctive Capital Management LP’s holdings in Target were worth $10,383,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TGT. WFA of San Diego LLC acquired a new position in shares of Target in the 2nd quarter valued at $25,000. Jessup Wealth Management Inc bought a new stake in Target in the 4th quarter valued at $25,000. Altshuler Shaham Ltd bought a new stake in Target in the 4th quarter valued at $26,000. Global Wealth Strategies & Associates lifted its position in Target by 192.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in Target in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Down 4.2%

Target stock opened at $127.80 on Thursday. The firm has a 50-day moving average of $126.04 and a 200-day moving average of $114.60. Target Corporation has a one year low of $83.44 and a one year high of $137.87. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The company has a market cap of $58.05 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.61 and a beta of 1.00.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The company had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same period in the prior year, the business posted $1.30 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, equities analysts expect that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Target’s previous quarterly dividend of $1.14. Target’s payout ratio is currently 60.24%.

Analysts Set New Price Targets

Several equities research analysts recently commented on TGT shares. Mizuho set a $120.00 price objective on shares of Target in a research report on Thursday, March 5th. BMO Capital Markets boosted their price objective on shares of Target from $105.00 to $130.00 and gave the company a “market perform” rating in a research report on Wednesday, March 4th. Wells Fargo & Company boosted their price objective on shares of Target from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. BNP Paribas Exane boosted their price objective on shares of Target from $63.00 to $88.00 and gave the company an “underperform” rating in a research report on Wednesday, March 4th. Finally, Evercore set a $130.00 price objective on shares of Target in a research report on Monday, May 18th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $126.11.

Insider Activity

In other news, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.