Mirae Asset Global Investments Co. Ltd. Makes New Investment in Target Corporation $TGT

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Target Corporation (NYSE:TGT) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 594,189 shares of the retailer’s stock, valued at approximately $93,103,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Washington Trust Advisors Inc. lifted its holdings in shares of Target by 28.5% in the third quarter. Washington Trust Advisors Inc. now owns 293 shares of the retailer’s stock worth $46,000 after acquiring an additional 65 shares during the last quarter. E Fund Management Co. Ltd. grew its holdings in shares of Target by 4.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 1,747 shares of the retailer’s stock valued at $228,000 after purchasing an additional 68 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Target by 3.5% during the 3rd quarter. Avior Wealth Management LLC now owns 2,173 shares of the retailer’s stock valued at $341,000 after purchasing an additional 73 shares during the last quarter. Wynn Capital LLC increased its position in Target by 0.9% during the 2nd quarter. Wynn Capital LLC now owns 8,455 shares of the retailer’s stock worth $1,104,000 after purchasing an additional 79 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its position in Target by 0.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 16,069 shares of the retailer’s stock worth $2,518,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Insider Activity at Target

In other Target news, insider Melissa Kremer sold 15,500 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the transaction, the insider directly owned 56,981 shares in the company, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew Liegel sold 926 shares of Target stock in a transaction 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 completion of the sale, the chief accounting officer 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 currently owned by insiders.

Analyst Ratings Changes

TGT has been the topic of a number of research analyst reports. Jefferies Financial Group raised their target price on shares of Target from $161.00 to $177.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Barclays increased their price target on Target from $115.00 to $140.00 and gave the company an “underweight” rating in a research note on Wednesday, August 19th. Bank of America reissued an “underperform” rating and set a $124.00 price objective (up from $110.00) on shares of Target in a report on Wednesday, August 12th. Citigroup raised their price objective on Target from $148.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $142.00 target price on shares of Target in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Target currently has a consensus rating of “Hold” and a consensus price target of $159.33.

Target Stock Performance

Shares of Target stock opened at $153.70 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $157.12 and a two-hundred day moving average price of $133.81. Target Corporation has a 1-year low of $83.44 and a 1-year high of $170.75. The company has a market cap of $69.83 billion, a P/E ratio of 15.96, a PEG ratio of 2.86 and a beta of 0.98.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%. The company 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 firm’s 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. As a group, analysts anticipate that Target Corporation will post 8.89 EPS for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 11th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, November 10th. Target’s payout ratio is presently 48.18%.

Target Company Profile

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.