Virginia Wealth Management Group Inc. Acquires 20,836 Shares of Target Corporation $TGT

Virginia Wealth Management Group Inc. lifted its holdings in shares of Target Corporation (NYSE:TGT) by 108.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 40,010 shares of the retailer’s stock after buying an additional 20,836 shares during the period. Target makes up approximately 2.6% of Virginia Wealth Management Group Inc.’s portfolio, making the stock its 15th largest position. Virginia Wealth Management Group Inc.’s holdings in Target were worth $4,849,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. WFA of San Diego LLC bought a new stake in Target in the second quarter worth $25,000. Jessup Wealth Management Inc bought a new position in Target during the fourth quarter valued at about $25,000. Altshuler Shaham Ltd bought a new position in Target during the fourth quarter valued at about $26,000. Global Wealth Strategies & Associates lifted its position in shares of Target by 192.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock worth $29,000 after buying an additional 192 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Target during the 4th quarter worth about $30,000. Institutional investors own 79.73% of the company’s stock.

Target Stock Up 1.2%

TGT opened at $127.55 on Wednesday. The business has a 50 day moving average of $128.10 and a 200-day moving average of $118.40. The stock has a market capitalization of $57.93 billion, a price-to-earnings ratio of 16.85, a P/E/G ratio of 2.46 and a beta of 0.98. 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 1-year low of $83.44 and a 1-year high of $142.82.

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

Target Increases Dividend

The business also recently disclosed 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. This is an increase from Target’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 12th. Target’s dividend payout ratio (DPR) is currently 60.24%.

Insider Activity at Target

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on TGT. KeyCorp reissued a “sector weight” rating on shares of Target in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $123.00 target price on shares of Target in a research report on Friday, May 15th. Evercore set a $130.00 price target on Target in a report on Monday, May 18th. Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a research report on Monday, June 15th. Finally, Guggenheim boosted their price objective on shares of Target from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Twelve research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $130.64.

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.