L2 Asset Management LLC Acquires 10,304 Shares of Target Corporation $TGT

L2 Asset Management LLC increased its holdings in Target Corporation (NYSE:TGT) by 421.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,746 shares of the retailer’s stock after buying an additional 10,304 shares during the period. L2 Asset Management LLC’s holdings in Target were worth $1,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. E Fund Management Co. Ltd. raised its position in shares of Target by 4.1% in the 2nd quarter. E Fund Management Co. Ltd. now owns 1,747 shares of the retailer’s stock worth $228,000 after acquiring an additional 68 shares in the last quarter. Wynn Capital LLC boosted its position in Target by 0.9% during the second quarter. Wynn Capital LLC now owns 8,455 shares of the retailer’s stock valued at $1,104,000 after purchasing an additional 79 shares in the last quarter. Whipplewood Advisors LLC boosted its position in Target by 16.0% during the first quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer’s stock valued at $70,000 after purchasing an additional 80 shares in the last quarter. Prosperity Consulting Group LLC grew its stake in Target by 3.4% in the first quarter. Prosperity Consulting Group LLC now owns 2,474 shares of the retailer’s stock valued at $300,000 after purchasing an additional 81 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in Target by 3.4% in the second quarter. Versant Capital Management Inc now owns 2,478 shares of the retailer’s stock valued at $324,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Transactions at Target

In other Target news, CAO Matthew A. Liegel sold 926 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $163.51, for a total transaction of $151,410.26. Following the sale, the chief accounting officer owned 12,266 shares in the company, valued at approximately $2,005,613.66. The trade was a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the transaction, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.13% of the company’s stock.

Target Stock Performance

Shares of Target stock opened at $169.96 on Tuesday. The company has a 50 day moving average price of $141.55 and a 200 day moving average price of $128.55. The firm has a market capitalization of $77.20 billion, a P/E ratio of 17.65, a PEG ratio of 3.34 and a beta of 0.96. The company has a quick ratio of 0.36, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. Target Corporation has a 52 week low of $83.44 and a 52 week high of $170.75.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $1.76. The business had revenue of $26.54 billion for the quarter, compared to analyst estimates of $26.13 billion. Target had a net margin of 4.08% and a return on equity of 23.23%. Target’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.05 EPS. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Sell-side analysts expect that Target Corporation will post 8.84 EPS for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.16 per share. 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 2.7%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s payout ratio is presently 48.18%.

Analyst Ratings Changes

Several research firms have commented on TGT. JPMorgan Chase & Co. increased their price target on shares of Target from $129.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Jefferies Financial Group lifted their price objective on shares of Target from $161.00 to $177.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Wolfe Research set a $169.00 price objective on shares of Target in a research note on Monday, August 3rd. Bank of America reissued an “underperform” rating and set a $124.00 target price (up from $110.00) on shares of Target in a research report on Wednesday, August 12th. Finally, Oppenheimer raised their target price on shares of Target from $140.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $159.52.

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.