Summit Securities Group LLC Grows Position in Target Corporation $TGT

Summit Securities Group LLC increased its stake in shares of Target Corporation (NYSE:TGT) by 308.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,074 shares of the retailer’s stock after purchasing an additional 6,099 shares during the quarter. Summit Securities Group LLC’s holdings in Target were worth $979,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Target by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock valued at $5,690,262,000 after purchasing an additional 286,499 shares during the last quarter. State Street Corp lifted its holdings in shares of Target by 0.3% during the 4th quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock worth $3,692,265,000 after acquiring an additional 124,468 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Target by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock worth $1,668,194,000 after acquiring an additional 561,898 shares during the period. Franklin Resources Inc. boosted its position in shares of Target by 2.4% in the fourth quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock worth $605,507,000 after acquiring an additional 142,937 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Target in the fourth quarter worth approximately $587,903,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Target

In related 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 value of $1,258,900.00. Following the completion of the sale, the insider directly owned 45,930 shares in the company, 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 is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Target Trading Down 0.2%

Shares of TGT stock opened at $132.11 on Friday. The stock has a market cap of $60.00 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.59 and a beta of 0.98. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $142.82. The firm’s 50 day moving average price is $128.26 and its two-hundred day moving average price is $118.87.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $24.66 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The business’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, analysts anticipate that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be given a dividend of $1.16 per share. 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. This represents a $4.64 dividend on an annualized basis and a yield of 3.5%. Target’s dividend payout ratio is currently 60.24%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TGT shares. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Target in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $123.00 price target on shares of Target in a report on Friday, May 15th. Guggenheim boosted their price objective on shares of Target from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. upped their price objective on Target from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Target in a research report on Monday, June 15th. Twelve investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Target has an average rating of “Hold” and an average target price of $130.64.

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.