HBK Sorce Advisory LLC Buys Shares of 20,484 Target Corporation $TGT

HBK Sorce Advisory LLC bought a new position in Target Corporation (NYSE:TGT) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,484 shares of the retailer’s stock, valued at approximately $3,025,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGT. Bank of New York Mellon Corp acquired a new position in shares of Target in the 2nd quarter valued at $831,466,000. Norges Bank acquired a new stake in Target during the 4th quarter worth $587,903,000. TOMS Capital Investment Management LP acquired a new stake in Target during the 4th quarter worth $257,571,000. AQR Capital Management LLC lifted its holdings in Target by 243.8% during the fourth quarter. AQR Capital Management LLC now owns 2,870,210 shares of the retailer’s stock worth $280,563,000 after acquiring an additional 2,035,298 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Target by 6,639.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,912,963 shares of the retailer’s stock worth $186,992,000 after acquiring an additional 1,884,577 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Target Price Performance

TGT stock opened at $154.52 on Monday. The stock has a 50-day moving average price of $138.02 and a two-hundred day moving average price of $126.29. The stock has a market cap of $70.18 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.51 and a beta of 0.96. 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 1 year low of $83.44 and a 1 year high of $156.47.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.24. The firm had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Equities analysts forecast that Target Corporation will post 8.4 EPS for the current fiscal year.

Target Increases Dividend

The company also recently announced 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 of this dividend is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a yield of 3.0%. This is a boost from Target’s previous quarterly dividend of $1.14. Target’s payout ratio is 61.29%.

Insider Buying and Selling

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. The trade was a 17.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TGT. Guggenheim increased their price target on Target from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Truist Financial lifted their price objective on Target from $130.00 to $147.00 and gave the company a “hold” rating in a report on Friday. Oppenheimer boosted their price objective on Target from $140.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Barclays reissued an “underweight” rating on shares of Target in a research note on Monday, June 1st. Finally, Evercore set a $150.00 target price on shares of Target in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Target currently has an average rating of “Hold” and a consensus target price of $143.30.

Target Company 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.