SCS Capital Management LLC Makes New $11.58 Million Investment in Target Corporation $TGT

SCS Capital Management LLC purchased a new position in Target Corporation (NYSE:TGT) during the second quarter, HoldingsChannel.com reports. The fund purchased 88,681 shares of the retailer’s stock, valued at approximately $11,583,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC grew its position in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after buying an additional 3,059 shares during the last quarter. Woodline Partners LP lifted its holdings in Target by 39.9% in the first quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock worth $4,040,000 after acquiring an additional 11,047 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Target by 22.8% in the second quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer’s stock worth $6,872,000 after acquiring an additional 12,948 shares during the last quarter. Sei Investments Co. boosted its stake in Target by 8.0% in the second quarter. Sei Investments Co. now owns 190,860 shares of the retailer’s stock valued at $18,832,000 after acquiring an additional 14,195 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in Target by 11.0% in the second quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer’s stock valued at $26,910,000 after acquiring an additional 27,063 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TGT shares. DA Davidson upped their target price on Target from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Target in a report on Friday, July 31st. TD Cowen restated a “hold” rating on shares of Target in a research report on Monday, August 10th. Roth Capital restated a “neutral” rating and set a $114.00 price objective on shares of Target in a research note on Friday, May 22nd. Finally, Zacks Research raised Target from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $143.30.

Insiders Place Their Bets

In related news, 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 owned 45,930 shares in the company, valued at $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.13% of the stock is owned by insiders.

Target Stock Up 0.0%

Shares of Target stock opened at $154.52 on Monday. The business’s fifty day moving average price is $138.02 and its two-hundred day moving average price is $126.29. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The company has a market capitalization of $70.18 billion, a P/E ratio of 20.41, a PEG ratio of 2.51 and a beta of 0.96. Target Corporation has a 1-year low of $83.44 and a 1-year high of $156.47.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The company had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. The firm’s quarterly revenue 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, research analysts forecast that Target Corporation will post 8.4 EPS for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This is an increase from Target’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 3.0%. Target’s dividend payout ratio is currently 61.29%.

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.