Oppenheimer Asset Management Inc. Buys New Shares in Target Corporation $TGT

Oppenheimer Asset Management Inc. bought a new position in Target Corporation (NYSE:TGT) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 65,737 shares of the retailer’s stock, valued at approximately $8,586,000.

Several other hedge funds have also added to or reduced their stakes in the business. Winning Points Advisors LLC purchased a new position in Target in the 4th quarter worth approximately $611,000. Franklin Resources Inc. boosted its stake in shares of Target by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock valued at $605,507,000 after purchasing an additional 142,937 shares during the period. Bogart Wealth LLC boosted its stake in shares of Target by 41.8% during the first quarter. Bogart Wealth LLC now owns 111,001 shares of the retailer’s stock valued at $13,453,000 after purchasing an additional 32,746 shares during the period. Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of Target during the first quarter valued at approximately $6,686,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Target in the fourth quarter worth approximately $27,470,000. 79.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Cara A. Sylvester sold 10,000 shares of the firm’s 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 sale, the insider directly owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $140.00 target price on shares of Target in a research note on Friday. Zacks Research raised shares of Target from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Barclays reissued an “underweight” rating on shares of Target in a report on Monday, June 1st. Royal Bank Of Canada boosted their price objective on shares of Target from $153.00 to $166.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Target in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $143.30.

Target Price Performance

TGT opened at $154.52 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. Target Corporation has a 52-week low of $83.44 and a 52-week high of $156.47. The stock has a market capitalization of $70.18 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.53 and a beta of 0.97. The stock’s 50 day moving average price is $138.02 and its 200-day moving average price is $126.14.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating 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 the consensus estimate of $24.66 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, equities research analysts predict that Target Corporation will post 8.39 EPS for the current year.

Target Increases Dividend

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

Target Company 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.