Edgestream Partners L.P. Acquires New Stake in Target Corporation $TGT

Edgestream Partners L.P. acquired a new position in Target Corporation (NYSE:TGT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,754 shares of the retailer’s stock, valued at approximately $455,000.

Several other large investors also recently added to or reduced their stakes in TGT. Brighton Jones LLC grew its holdings in Target by 101.3% during 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 during the period. Woodline Partners LP grew its stake in shares of Target by 39.9% during 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 increased its holdings in Target by 22.8% in the 2nd quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer’s stock worth $6,872,000 after acquiring an additional 12,948 shares in the last quarter. Sei Investments Co. raised its position in shares of Target by 8.0% during the 2nd quarter. Sei Investments Co. now owns 190,860 shares of the retailer’s stock valued at $18,832,000 after purchasing an additional 14,195 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Target by 11.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer’s stock valued at $26,910,000 after buying an additional 27,063 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TGT shares. Jefferies Financial Group upped their price objective on Target from $140.00 to $161.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Robert W. Baird upped their target price on shares of Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st. KeyCorp reiterated a “sector weight” rating on shares of Target in a report on Thursday, May 21st. Zacks Research raised Target from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Finally, Evercore set a $150.00 price target on shares of Target in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Target has a consensus rating of “Hold” and a consensus price target of $135.04.

Target Price Performance

Target stock opened at $147.82 on Thursday. 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 stock has a market cap of $67.14 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.90 and a beta of 0.97. The firm has a 50-day moving average of $134.19 and a two-hundred day moving average of $124.12. Target Corporation has a 1 year low of $83.44 and a 1 year high of $150.07.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $24.66 billion. During the same period in the previous year, the company posted $1.30 EPS. Target’s 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, research analysts forecast that Target Corporation will post 8.32 earnings per share for the current year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.1%. This is a positive change from Target’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Wednesday, August 12th. Target’s payout ratio is presently 60.24%.

Insider Buying and Selling

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction 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 sale, the insider owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their position. 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 owned by company insiders.

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.