76,407 Shares in Target Corporation $TGT Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. bought a new stake in Target Corporation (NYSE:TGT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 76,407 shares of the retailer’s stock, valued at approximately $9,261,000. Target accounts for about 1.9% of Contravisory Investment Management Inc.’s holdings, making the stock its 14th biggest position.

Several other hedge funds have also recently bought and sold shares of TGT. Brighton Jones LLC lifted its holdings in shares of Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after purchasing an additional 3,059 shares in the last quarter. Woodline Partners LP grew its position in shares of Target by 39.9% in the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock valued at $4,040,000 after acquiring an additional 11,047 shares during the period. NewEdge Advisors LLC grew its holdings in Target by 22.8% during the second quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer’s stock worth $6,872,000 after purchasing an additional 12,948 shares during the period. Sei Investments Co. boosted its stake in shares of Target by 8.0% during the 2nd quarter. Sei Investments Co. now owns 190,860 shares of the retailer’s stock worth $18,832,000 after acquiring an additional 14,195 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Target by 11.0% in the second quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer’s stock valued at $26,910,000 after purchasing an additional 27,063 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TGT shares. BMO Capital Markets upped their target price on Target from $105.00 to $130.00 and gave the company a “market perform” rating in a research report on Wednesday, March 4th. Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a report on Monday, June 15th. Telsey Advisory Group boosted their price target on Target from $148.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Robert W. Baird upped their price objective on Target from $125.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. Finally, Roth Mkm reiterated a “neutral” rating and set a $114.00 price objective on shares of Target in a research report on Friday, May 22nd. Twelve research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $129.00.

Target Trading Down 1.1%

Shares of TGT stock opened at $139.65 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. The stock has a market cap of $63.43 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 2.76 and a beta of 1.00. The stock has a 50 day simple moving average of $127.65 and a 200 day simple moving average of $116.43. Target Corporation has a 1 year low of $83.44 and a 1 year high of $142.82.

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

Target Increases Dividend

The business 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 dividend of $1.16 per share. This is an increase from Target’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 3.3%. Target’s payout ratio is currently 60.24%.

Insider Activity

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.