Target Corporation $TGT Shares Purchased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC increased its holdings in shares of Target Corporation (NYSE:TGT) by 1,296.0% during the third quarter, Holdings Channel.com reports. The fund owned 4,928 shares of the retailer’s stock after purchasing an additional 4,575 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Target were worth $772,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Associated Banc Corp acquired a new position in Target in the third quarter valued at about $2,869,000. Putney Financial Group LLC acquired a new position in Target during the 3rd quarter worth approximately $28,000. First Nebraska Trust Co acquired a new position in Target during the 3rd quarter worth approximately $563,000. GRIMES & Co WEALTH MANAGEMENT LLC increased its position in Target by 1.1% during the 3rd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 7,426 shares of the retailer’s stock worth $1,164,000 after purchasing an additional 80 shares in the last quarter. Finally, MBA Advisors LLC bought a new position in Target in the 3rd quarter valued at approximately $230,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Up 5.7%

Shares of NYSE:TGT opened at $163.26 on Thursday. The firm has a market cap of $74.17 billion, a P/E ratio of 16.95, a P/E/G ratio of 2.86 and a beta of 0.94. The company has a quick ratio of 0.36, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. Target Corporation has a 12-month low of $83.44 and a 12-month high of $170.75. The business has a fifty day simple moving average of $156.68 and a 200 day simple moving average of $134.54.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, topping the consensus estimate of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%. The firm had revenue of $26.54 billion for the quarter, compared to the consensus estimate of $26.13 billion. During the same period in the previous year, the business earned $2.05 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Analysts predict that Target Corporation will post 8.91 earnings per share for the current year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 11th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 10th. Target’s payout ratio is currently 48.18%.

Insider Buying and Selling

In other Target news, insider Melissa K. Kremer sold 15,500 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the completion of the sale, the insider owned 56,981 shares of the company’s stock, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $151,410.26. Following the sale, the chief accounting officer directly owned 12,266 shares of the company’s stock, valued at $2,005,613.66. This represents a 7.02% decrease in their position. The SEC filing for this sale provides additional information. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on TGT. KeyCorp restated a “sector weight” rating on shares of Target in a research report on Thursday, August 20th. Deutsche Bank Aktiengesellschaft set a $150.00 price target on shares of Target and gave the stock a “hold” rating in a report on Thursday, August 20th. The Goldman Sachs Group reiterated a “neutral” rating and set a $161.00 price target (up from $127.00) on shares of Target in a report on Friday, September 25th. Argus increased their price target on Target from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Finally, Mizuho set a $150.00 price objective on Target and gave the company a “neutral” rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $161.50.

About Target

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping platforms under the Target name. The company sells a broad assortment of products, including apparel and accessories, beauty and household essentials, electronics, toys, groceries, home furnishings, and seasonal merchandise.

Target also offers services designed to support omnichannel shopping, including order pickup, Drive Up, same-day delivery, and shipping through its digital channels.