Target Corporation $TGT Shares Newly Bought by Ninety One UK Ltd

Ninety One UK Ltd bought a new stake in Target Corporation (NYSE:TGT) during the third quarter, Holdings Channel reports. The institutional investor bought 3,673 shares of the retailer’s stock, valued at approximately $576,000.

A number of other hedge funds have also made changes to their positions in TGT. BlackRock Inc. acquired a new stake in shares of Target during the second quarter worth approximately $5,054,604,000. Bank of New York Mellon Corp purchased a new position in Target during the second quarter valued at approximately $831,466,000. Dimensional Fund Advisors LP grew its position in Target by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,413,840 shares of the retailer’s stock valued at $656,091,000 after purchasing an additional 411,608 shares in the last quarter. Bank of America Corp DE increased its stake in Target by 1.8% in the 2nd quarter. Bank of America Corp DE now owns 4,575,880 shares of the retailer’s stock valued at $597,656,000 after buying an additional 82,268 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Target by 12.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,514,522 shares of the retailer’s stock valued at $589,642,000 after buying an additional 514,155 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TGT. Deutsche Bank Aktiengesellschaft set a $150.00 target price on shares of Target in a research report on Thursday, August 20th. Guggenheim boosted their price target on shares of Target from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Oppenheimer boosted their price target on shares of Target from $140.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Morgan Stanley reaffirmed an “overweight” rating on shares of Target in a research note on Thursday, August 20th. Finally, Wall Street Zen upgraded Target from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $159.33.

Insider Buying and Selling

In other news, insider Melissa K. Kremer sold 15,500 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the transaction, the insider owned 56,981 shares in the company, valued at $9,684,490.76. This represents a 21.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 926 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the transaction, the chief accounting officer owned 12,266 shares in the company, valued at $2,005,613.66. This represents a 7.02% decrease in their position. The SEC filing for this sale provides additional information. 0.13% of the stock is owned by insiders.

Target Stock Up 0.9%

Shares of Target stock opened at $156.66 on Friday. The firm has a market cap of $71.17 billion, a price-to-earnings ratio of 16.27, a P/E/G ratio of 2.88 and a beta of 0.98. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36. Target Corporation has a 52-week low of $83.44 and a 52-week high of $170.75. The stock has a 50-day simple moving average of $157.67 and a 200-day simple moving average of $139.80.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, beating the consensus estimate of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%. The business had revenue of $26.54 billion during the quarter, compared to analysts’ expectations of $26.13 billion. During the same quarter in the previous year, the business posted $2.05 EPS. The firm’s quarterly 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. On average, equities research analysts expect that Target Corporation will post 8.89 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 11th will be paid a $1.16 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $4.64 dividend on an annualized basis and a yield of 3.0%. Target’s payout ratio is 48.18%.

Target Company Profile

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping channels under the Target brand. The company sells a broad assortment of products, including apparel and accessories, beauty and personal care items, home furnishings, electronics, groceries, toys, seasonal merchandise and everyday essentials.

Target offers private-label brands alongside national brands and provides services such as Order Pickup, Drive Up and same-day delivery through Shipt.