Manning & Napier Advisors LLC Acquires 20,480 Shares of Target Corporation $TGT

Manning & Napier Advisors LLC boosted its holdings in shares of Target Corporation (NYSE:TGT) by 136.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 35,524 shares of the retailer’s stock after acquiring an additional 20,480 shares during the period. Manning & Napier Advisors LLC’s holdings in Target were worth $4,306,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Whipplewood Advisors LLC lifted its stake in shares of Target by 16.0% in the 1st quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer’s stock valued at $70,000 after purchasing an additional 80 shares during the period. Howe & Rusling Inc. grew its stake in shares of Target by 3.1% during the first quarter. Howe & Rusling Inc. now owns 2,951 shares of the retailer’s stock worth $358,000 after purchasing an additional 90 shares during the period. Crawford Investment Counsel Inc. increased its holdings in Target by 0.4% in the fourth quarter. Crawford Investment Counsel Inc. now owns 20,163 shares of the retailer’s stock valued at $1,971,000 after purchasing an additional 90 shares during the last quarter. Valtinson Bruner Financial Planning LLC increased its holdings in Target by 2.6% in the fourth quarter. Valtinson Bruner Financial Planning LLC now owns 3,604 shares of the retailer’s stock valued at $352,000 after purchasing an additional 92 shares during the last quarter. Finally, Auxano Advisors LLC lifted its stake in Target by 3.0% in the fourth quarter. Auxano Advisors LLC now owns 3,193 shares of the retailer’s stock valued at $312,000 after buying an additional 93 shares during the period. Institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup raised their target price on Target from $117.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wells Fargo & Company upped their price target on Target from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. DA Davidson increased their price target on shares of Target from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. The Goldman Sachs Group reissued a “neutral” rating on shares of Target in a research note on Thursday, June 11th. Finally, Freedom Capital cut shares of Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Twelve equities research 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, Target has an average rating of “Hold” and a consensus price target of $130.64.

Insider Activity

In related news, insider Cara A. Sylvester sold 10,000 shares of the 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 sale, the insider directly owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

Target Trading Up 2.0%

TGT stock traded up $2.67 during midday trading on Friday, hitting $134.94. 3,403,029 shares of the company’s stock were exchanged, compared to its average volume of 4,556,986. Target Corporation has a one year low of $83.44 and a one year high of $142.82. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. The company has a market cap of $61.29 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.64 and a beta of 0.98. The stock’s fifty day moving average price is $128.40 and its 200-day moving average price is $118.99.

Target (NYSE:TGT) last announced its quarterly earnings results 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 return on equity of 22.92% and a net margin of 3.24%.The company had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Research analysts predict that Target Corporation will post 8.35 earnings per share for the current fiscal 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 given a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 3.4%. This is a boost from Target’s previous quarterly dividend of $1.14. Target’s payout ratio is presently 60.24%.

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.