Corient Private Wealth LP Buys 518,551 Shares of Target Corporation $TGT

Corient Private Wealth LP increased its stake in shares of Target Corporation (NYSE:TGT) by 5,812.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 527,473 shares of the retailer’s stock after purchasing an additional 518,551 shares during the period. Corient Private Wealth LP’s holdings in Target were worth $68,893,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Target by 1.8% during the 2nd quarter. Bank of America Corp DE now owns 4,575,880 shares of the retailer’s stock valued at $597,656,000 after buying an additional 82,268 shares in the last quarter. Gallagher Fiduciary Advisors LLC increased its position in shares of Target by 75.6% during the second quarter. Gallagher Fiduciary Advisors LLC now owns 6,012 shares of the retailer’s stock valued at $785,000 after buying an additional 2,589 shares during the period. Odyssean LLC lifted its holdings in shares of Target by 14.4% in the second quarter. Odyssean LLC now owns 3,627 shares of the retailer’s stock worth $474,000 after buying an additional 456 shares in the last quarter. First Bancorp Inc ME purchased a new stake in shares of Target in the second quarter worth about $102,000. Finally, Jupiter Topco LLC bought a new position in shares of Target in the second quarter valued at approximately $320,006,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

NYSE TGT opened at $163.85 on Thursday. Target Corporation has a 52-week low of $83.44 and a 52-week high of $170.75. The company has a fifty day moving average of $142.87 and a 200-day moving average of $129.27. The company has a market capitalization of $74.42 billion, a P/E ratio of 17.01, a P/E/G ratio of 3.03 and a beta of 0.97. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%.The business had revenue of $26.54 billion for the quarter, compared to analysts’ expectations of $26.13 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, equities research analysts predict that Target Corporation will post 8.88 EPS for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be given a dividend of $1.16 per share. This is a boost from Target’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 2.8%. Target’s dividend payout ratio is currently 48.18%.

Insider Activity

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly 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 filing with the SEC, which is accessible through this link. Also, CAO Matthew A. Liegel sold 926 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $163.51, for a total value of $151,410.26. Following the completion of the sale, the chief accounting officer owned 12,266 shares of the company’s stock, valued at $2,005,613.66. The trade was a 7.02% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 26,426 shares of company stock worth $4,044,690. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Target from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Truist Financial boosted their price target on shares of Target from $147.00 to $167.00 and gave the company a “hold” rating in a research report on Thursday, August 20th. The Goldman Sachs Group increased their price objective on Target from $127.00 to $161.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Guggenheim upped their target price on Target from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Finally, BMO Capital Markets raised their price target on Target from $150.00 to $160.00 and gave the company a “market perform” rating in a report on Thursday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $159.52.

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.