Callodine Capital Management LP Purchases 50,142 Shares of Target Corporation $TGT

Callodine Capital Management LP lifted its position in shares of Target Corporation (NYSE:TGT) by 39.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,142 shares of the retailer’s stock after purchasing an additional 50,142 shares during the quarter. Target comprises 1.5% of Callodine Capital Management LP’s investment portfolio, making the stock its 22nd biggest holding. Callodine Capital Management LP’s holdings in Target were worth $21,348,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Target during the fourth quarter valued at $587,903,000. TOMS Capital Investment Management LP bought a new position in shares of Target in the 4th quarter worth about $257,571,000. AQR Capital Management LLC increased its stake in shares of Target by 243.8% in the 4th quarter. AQR Capital Management LLC now owns 2,870,210 shares of the retailer’s stock worth $280,563,000 after acquiring an additional 2,035,298 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Target by 6,639.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,912,963 shares of the retailer’s stock worth $186,992,000 after acquiring an additional 1,884,577 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Target by 104.7% during the 4th quarter. Marshall Wace LLP now owns 65,505 shares of the retailer’s stock valued at $6,403,000 after acquiring an additional 1,448,146 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

TGT opened at $136.85 on Friday. The firm has a market cap of $62.16 billion, a PE ratio of 18.08, a P/E/G ratio of 2.67 and a beta of 0.98. The stock has a 50-day moving average price of $130.97 and a 200-day moving average price of $121.80. Target Corporation has a 1 year low of $83.44 and a 1 year high of $144.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.47 by $0.24. The company had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. Target’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Sell-side analysts predict that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be paid a $1.16 dividend. This is a boost from Target’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, August 12th. Target’s payout ratio is currently 60.24%.

Insider Activity at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were 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 owned 45,930 shares of the company’s stock, valued at $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on TGT shares. Weiss Ratings reissued a “hold (c)” rating on shares of Target in a research note on Monday, May 4th. Truist Financial raised their target price on shares of Target from $123.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. Zacks Research upgraded shares of Target from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Freedom Capital cut Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Finally, Robert W. Baird upped their price target on Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $132.15.

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.