Hsbc Holdings PLC Purchases 85,585 Shares of Target Corporation $TGT

Hsbc Holdings PLC increased its position in shares of Target Corporation (NYSE:TGT) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,735,323 shares of the retailer’s stock after purchasing an additional 85,585 shares during the period. Hsbc Holdings PLC’s holdings in Target were worth $169,654,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TGT. First Trust Advisors LP boosted its holdings in shares of Target by 10.9% in the 3rd quarter. First Trust Advisors LP now owns 1,267,577 shares of the retailer’s stock valued at $113,702,000 after purchasing an additional 124,371 shares in the last quarter. Winning Points Advisors LLC acquired a new position in shares of Target during the 4th quarter worth $611,000. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Target by 15.4% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 342,487 shares of the retailer’s stock worth $30,721,000 after buying an additional 45,803 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Target by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock worth $605,507,000 after buying an additional 142,937 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of Target by 7.5% during the 4th quarter. Mather Group LLC. now owns 155,222 shares of the retailer’s stock worth $15,173,000 after buying an additional 10,839 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TGT. JPMorgan Chase & Co. lifted their target price on Target from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. BMO Capital Markets increased their target price on shares of Target from $105.00 to $130.00 and gave the stock a “market perform” rating in a report on Wednesday, March 4th. Citigroup increased their target price on shares of Target from $117.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Telsey Advisory Group raised their price target on shares of Target from $148.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Finally, Oppenheimer lifted their price target on shares of Target from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, March 4th. Eleven research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Target currently has an average rating of “Hold” and a consensus price target of $126.11.

Target Price Performance

Target stock 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. The company has a market capitalization of $59.42 billion, a PE ratio of 17.28, a P/E/G ratio of 2.55 and a beta of 1.00. Target Corporation has a 12 month low of $83.44 and a 12 month high of $137.87. The stock has a 50-day moving average price of $126.43 and a two-hundred day moving average price of $115.00.

Target (NYSE:TGT) last announced its quarterly 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. The firm had revenue of $25.44 billion for the quarter, compared to analyst estimates of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Analysts expect that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

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

Insiders Place Their Bets

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the sale, the insider directly owned 45,930 shares of the company’s stock, valued at $5,782,127.70. The trade was a 17.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by insiders.

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.