Target Corporation $TGT Shares Bought by L2 Asset Management LLC

L2 Asset Management LLC raised its holdings in Target Corporation (NYSE:TGT) by 421.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,746 shares of the retailer’s stock after purchasing an additional 10,304 shares during the quarter. L2 Asset Management LLC’s holdings in Target were worth $1,665,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Target by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock worth $5,690,262,000 after purchasing an additional 286,499 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Target during the 2nd quarter valued at approximately $5,054,604,000. State Street Corp lifted its stake in shares of Target by 0.3% in the 4th quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock valued at $3,692,265,000 after purchasing an additional 124,468 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Target by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock valued at $1,668,194,000 after purchasing an additional 561,898 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Target in the 2nd quarter valued at $831,466,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TGT has been the topic of several analyst reports. DA Davidson raised their price target on shares of Target from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Citigroup upped their price objective on shares of Target from $148.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. Royal Bank Of Canada increased their target price on shares of Target from $166.00 to $178.00 and gave the stock an “outperform” rating in a research note on Thursday, August 20th. Roth Capital restated a “neutral” rating and set a $142.00 target price on shares of Target in a research report on Thursday. Finally, Wolfe Research set a $169.00 price target on Target in a research note on Monday, August 3rd. Eleven analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $159.52.

Target Stock Performance

NYSE:TGT opened at $169.96 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99. The company has a fifty day moving average of $141.55 and a two-hundred day moving average of $128.55. The stock has a market capitalization of $77.20 billion, a PE ratio of 17.65, a P/E/G ratio of 3.34 and a beta of 0.96. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $170.75.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, research analysts forecast that Target Corporation will post 8.84 earnings per share for the current fiscal year.

Target Increases Dividend

The company 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. This represents a $4.64 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, August 12th. This is a positive change from Target’s previous quarterly dividend of $1.14. Target’s payout ratio is presently 48.18%.

Insider Activity

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 transaction of $1,258,900.00. Following the completion of the sale, the insider directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 926 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $163.51, for a total value of $151,410.26. Following the transaction, the chief accounting officer directly 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. Insiders own 0.13% of the company’s stock.

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.