Bayban Invests $1.04 Million in Target Corporation $TGT

Bayban bought a new position in shares of Target Corporation (NYSE:TGT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,617 shares of the retailer’s stock, valued at approximately $1,038,000. Target comprises 0.9% of Bayban’s portfolio, making the stock its 20th biggest position.

Several other institutional investors also recently bought and sold shares of TGT. WFA of San Diego LLC purchased a new stake in Target in the 2nd quarter worth $25,000. Jessup Wealth Management Inc bought a new position in shares of Target during the 4th quarter valued at about $25,000. Altshuler Shaham Ltd purchased a new position in shares of Target during the fourth quarter valued at about $26,000. Global Wealth Strategies & Associates grew its position in shares of Target by 192.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Target in the fourth quarter worth about $30,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Up 0.1%

Shares of NYSE:TGT opened at $130.82 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. Target Corporation has a 12 month low of $83.44 and a 12 month high of $137.87. The company has a 50-day moving average price of $126.43 and a 200 day moving average price of $115.00. The company has a market cap of $59.42 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 2.55 and a beta of 1.00.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $24.66 billion. During the same period in the previous year, the firm posted $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. As a group, equities research analysts predict that Target Corporation will post 8.35 earnings per share for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 3.5%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is presently 60.24%.

Insider Buying and Selling at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction 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 sale, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TGT has been the topic of a number of research analyst reports. Mizuho set a $120.00 target price on Target in a research report on Thursday, March 5th. Piper Sandler restated a “neutral” rating on shares of Target in a report on Friday, June 12th. Wells Fargo & Company lifted their price objective on Target from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Bank of America started coverage on Target in a report on Friday, February 27th. They set an “underperform” rating and a $103.00 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Target in a research report on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $126.11.

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.