OMERS ADMINISTRATION Corp Increases Stock Position in Target Corporation $TGT

OMERS ADMINISTRATION Corp raised its stake in Target Corporation (NYSE:TGT) by 29.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 21,444 shares of the retailer’s stock after purchasing an additional 4,826 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Target were worth $2,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in TGT. Vanguard Group Inc. boosted its holdings in shares of Target by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock valued at $5,690,262,000 after acquiring an additional 286,499 shares during the period. State Street Corp grew its position in Target by 0.3% during the 4th quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock worth $3,692,265,000 after purchasing an additional 124,468 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Target by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock valued at $1,668,194,000 after purchasing an additional 561,898 shares during the period. Franklin Resources Inc. increased its stake in Target by 2.4% in 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. Finally, Norges Bank purchased a new stake in shares of Target in the fourth quarter valued at about $587,903,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGT has been the topic of a number of research reports. Roth Capital reissued a “neutral” rating and set a $114.00 price target on shares of Target in a report on Friday, May 22nd. Truist Financial boosted their target price on Target from $123.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, May 20th. Wells Fargo & Company lifted their price objective on shares of Target from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada boosted their price objective on shares of Target from $132.00 to $153.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Finally, Telsey Advisory Group upped their price objective on shares of Target from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $132.15.

Insider Buying and Selling

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the sale, the insider owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Target Stock Up 2.7%

Target stock opened at $144.18 on Wednesday. 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 Corporation has a 1-year low of $83.44 and a 1-year high of $145.85. The company has a market cap of $65.49 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 2.74 and a beta of 0.98. The stock’s 50 day moving average price is $131.66 and its 200 day moving average price is $122.48.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) 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 firm had revenue of $25.44 billion during the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter in the prior year, the business posted $1.30 earnings per share. Target’s 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. On average, sell-side analysts predict that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. This is a boost from Target’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, August 12th. Target’s payout ratio is presently 60.24%.

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.