Kentucky Retirement Systems Grows Position in Target Corporation $TGT

Kentucky Retirement Systems lifted its holdings in Target Corporation (NYSE:TGT) by 82.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 52,186 shares of the retailer’s stock after purchasing an additional 23,649 shares during the period. Kentucky Retirement Systems’ holdings in Target were worth $6,325,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in shares of Target by 41.5% in the 1st quarter. Janus Henderson Group PLC now owns 61,449 shares of the retailer’s stock valued at $7,439,000 after acquiring an additional 18,036 shares during the period. Bull Harbor Capital LLC bought a new stake in shares of Target in the 1st quarter valued at about $1,060,000. Ashton Thomas Securities LLC purchased a new position in Target in the first quarter worth $284,000. Altshuler Shaham Ltd increased its position in Target by 36.8% during the 1st quarter. Altshuler Shaham Ltd now owns 364 shares of the retailer’s stock valued at $44,000 after buying an additional 98 shares in the last quarter. Finally, Amundi increased its holdings in shares of Target by 18.3% during the first quarter. Amundi now owns 2,834,973 shares of the retailer’s stock valued at $343,594,000 after acquiring an additional 439,081 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Insiders Place Their Bets

In related news, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the transaction, the insider owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Target Price Performance

TGT stock opened at $146.09 on Thursday. The company has a market capitalization of $66.35 billion, a P/E ratio of 19.30, a PEG ratio of 2.82 and a beta of 0.98. The business has a 50 day simple moving average of $132.12 and a 200-day simple moving average of $122.76. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. Target Corporation has a twelve month low of $83.44 and a twelve month high of $147.77.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share 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 firm had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same period last year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, equities analysts anticipate that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.2%. 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%.

Analysts Set New Price Targets

TGT has been the subject of several research analyst reports. Truist Financial raised their price objective on Target from $123.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, May 20th. Robert W. Baird lifted their price target on Target from $125.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 21st. Wolfe Research upgraded shares of Target from a “peer perform” rating to an “outperform” rating and set a $162.00 price objective for the company in a research report on Tuesday, June 23rd. Evercore set a $130.00 price objective on Target in a research report on Monday, May 18th. Finally, Telsey Advisory Group boosted their target price on Target from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $132.15.

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.