Target (NYSE:TGT) Hits New 12-Month High – Here’s What Happened

Target Corporation (NYSE:TGT) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $145.09 and last traded at $145.4270, with a volume of 742820 shares changing hands. The stock had previously closed at $140.34.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent analyst reports. Sanford C. Bernstein reiterated a “market perform” rating on shares of Target in a research note on Monday, June 15th. Truist Financial upped their price target on shares of Target from $123.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. Telsey Advisory Group raised their price target on shares of Target from $148.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Zacks Research upgraded shares of Target from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Finally, Wall Street Zen raised shares of Target from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $132.15.

Target Trading Up 2.7%

The stock has a market cap of $65.49 billion, a PE ratio of 19.03, a PEG ratio of 2.67 and a beta of 0.98. The company’s fifty day moving average is $131.31 and its 200-day moving average is $122.19. 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) last posted its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.47 by $0.24. The company had revenue of $25.44 billion for 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 firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, 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 paid a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. This is a positive change from Target’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.2%. Target’s dividend payout ratio (DPR) is currently 61.29%.

Insider Buying and Selling

In related news, insider Cara A. Sylvester sold 10,000 shares of Target stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the completion of the transaction, the insider directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Target

Hedge funds have recently bought and sold shares of the stock. Ballast Inc. lifted its stake in shares of Target by 19.0% in the 2nd quarter. Ballast Inc. now owns 19,604 shares of the retailer’s stock valued at $2,560,000 after purchasing an additional 3,130 shares during the period. Regent Peak Wealth Advisors LLC grew its position in Target by 4.7% during the second quarter. Regent Peak Wealth Advisors LLC now owns 2,269 shares of the retailer’s stock valued at $296,000 after buying an additional 101 shares during the period. Tema ETFs LLC increased its holdings in Target by 10.6% in the second quarter. Tema ETFs LLC now owns 9,058 shares of the retailer’s stock valued at $1,183,000 after buying an additional 870 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in Target in the second quarter valued at $543,000. Finally, Sax Wealth Advisors LLC acquired a new position in shares of Target in the second quarter worth about $203,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

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.