Target Corporation $TGT Shares Purchased by Martingale Asset Management L P

Martingale Asset Management L P increased its stake in shares of Target Corporation (NYSE:TGT) by 159.2% during the 1st quarter, Holdings Channel reports. The fund owned 56,830 shares of the retailer’s stock after purchasing an additional 34,904 shares during the quarter. Martingale Asset Management L P’s holdings in Target were worth $5,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TGT. Bernard Wealth Management Corp. acquired a new stake in Target during the fourth quarter worth about $29,000. Heck Capital Advisors LLC acquired a new stake in Target during the fourth quarter worth about $40,000. Atwood & Palmer Inc. grew its holdings in Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer’s stock worth $41,000 after acquiring an additional 352 shares during the period. Abound Financial LLC acquired a new stake in Target during the first quarter worth about $43,000. Finally, Bellwether Advisors LLC acquired a new stake in Target during the fourth quarter worth about $47,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the transaction, the insider owned 246,453 shares in the company, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TGT has been the topic of several research analyst reports. Evercore ISI dropped their price objective on Target from $108.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday. Royal Bank Of Canada raised their price objective on Target from $104.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday. Barclays reissued an “underweight” rating and issued a $91.00 price objective on shares of Target in a report on Monday, July 21st. Piper Sandler reissued a “neutral” rating on shares of Target in a report on Tuesday, July 29th. Finally, Citigroup dropped their price objective on Target from $97.00 to $94.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $113.55.

Target Stock Performance

NYSE TGT opened at $97.0770 on Friday. The company has a market cap of $44.11 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 2.84 and a beta of 1.22. The stock’s 50 day simple moving average is $101.99 and its 200-day simple moving average is $104.11. Target Corporation has a 1-year low of $87.35 and a 1-year high of $161.84. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.25.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.01. The business had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, equities research analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Wednesday, August 13th. Target’s dividend payout ratio (DPR) is 50.11%.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.