Manning & Napier Advisors LLC Has $4.31 Million Stake in Target Corporation $TGT

Manning & Napier Advisors LLC boosted its stake in Target Corporation (NYSE:TGT) by 136.1% during the 1st quarter, HoldingsChannel reports. The fund owned 35,524 shares of the retailer’s stock after acquiring an additional 20,480 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Target were worth $4,306,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WFA of San Diego LLC acquired a new stake in shares of Target in the 2nd quarter valued at about $25,000. Jessup Wealth Management Inc bought a new stake in shares of Target in the fourth quarter valued at about $25,000. Altshuler Shaham Ltd acquired a new position in shares of Target during the fourth quarter worth about $26,000. Global Wealth Strategies & Associates boosted its position in shares of Target by 192.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock worth $29,000 after buying an additional 192 shares during the period. Finally, Eagle Bay Advisors LLC bought a new position in shares of Target during the fourth quarter worth about $30,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Up 2.0%

Shares of NYSE:TGT traded up $2.67 during midday trading on Friday, reaching $134.94. The company had a trading volume of 3,403,029 shares, compared to its average volume of 4,556,986. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average price is $128.40 and its 200 day moving average price is $118.99. The stock has a market cap of $61.29 billion, a PE ratio of 17.83, a P/E/G ratio of 2.64 and a beta of 0.98. Target Corporation has a 1-year low of $83.44 and a 1-year high of $142.82.

Target (NYSE:TGT) last released its 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 business had revenue of $25.44 billion for the quarter, compared to analyst estimates of $24.66 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. Target’s revenue was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Research analysts forecast that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio (DPR) is currently 60.24%.

Insider Activity at Target

In other 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 value of $1,258,900.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of recent research reports. KeyCorp reissued a “sector weight” rating on shares of Target in a research report on Thursday, May 21st. Roth Capital reaffirmed a “neutral” rating and set a $114.00 price target on shares of Target in a research report on Friday, May 22nd. Freedom Capital cut shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 20th. Barclays reiterated an “underweight” rating on shares of Target in a report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $123.00 price objective on shares of Target in a research report on Friday, May 15th. Twelve analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $130.64.

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.