# Target Corporation (TGT)

> Source: Nexqual · https://nexqual.com/TGT · data as of 2026-10-22 20:01 UTC · cite as "Nexqual, Target Corporation (TGT), nexqual.com/TGT" · informational, not investment advice.

**Price:** USD 158.11 (+3.76% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 152.38 · day 151.42–158.29 · 52w 83.44–170.75 · market cap $71.8B · NYQ

## Key facts
- Last four reported quarters (through Aug 1, 2026): revenue $108B, net income $4.39B (4.1% margin), free cash flow $4.46B (SEC filings).
- 4 of 80 tracked superinvestors hold TGT (13F, Q2 2026 (1 investor on Q3 2026, filed early)): 0 new, 1 added, 3 reduced, 0 unchanged.
- Total return with dividends: 1Y +74.5% vs S&P 500 +14.9%; 5Y -27.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-18, EPS estimate USD 2.05, revenue estimate $26.4B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $106B | $109B | $107B | $107B | $105B | $108B |
| Gross profit | $31.0B | $26.8B | $29.6B | $30.1B | $29.3B | — |
| Operating income | $8.95B | $3.85B | $5.71B | $5.57B | $5.12B | $6.02B |
| Net income | $6.95B | $2.78B | $4.14B | $4.09B | $3.71B | $4.39B |
| EPS (diluted) | $14.10 | $5.98 | $8.94 | $8.86 | $8.13 | — |
| Free cash flow | $5.08B | -$1.51B | $3.81B | $4.48B | $2.83B | $4.46B |
| Gross margin | 29.3% | 24.6% | 27.5% | 28.2% | 27.9% | — |
| Operating margin | 8.4% | 3.5% | 5.3% | 5.2% | 4.9% | 5.6% |
| Net margin | 6.6% | 2.5% | 3.9% | 3.8% | 3.5% | 4.1% |
| Revenue growth | +13.3% | +2.9% | -1.6% | -0.8% | -1.7% | — |
| Cash + short-term investments | $5.91B | $2.23B | $3.81B | $4.76B | $5.49B | — |
| Total debt | $11.6B | $14.1B | $14.2B | $13.9B | $14.4B | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Aug 1, 2026)

P/E at fiscal year-ends: Jan 2026 13.0x, Feb 2025 14.0x, Feb 2024 17.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
4 of 80 tracked investors hold TGT (1 investor on Q3 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change | Quarter |
|---|---|---|---|---|---|
| David Katz | Matrix Asset Advisors | 0.56% | $6.8M | Reduced -62.2% | Q3 2026 |
| Mairs & Power | Mairs & Power Funds | 0.19% | $20.8M | Reduced -5.7% | Q2 2026 |
| Richard Pzena | Pzena Investment Management | 0.14% | $48.8M | Added +0.0% | Q2 2026 |
| Dodge & Cox Funds | Dodge & Cox | 0.01% | $12.5M | Reduced -1.1% | Q2 2026 |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Evercore ISI Group | Target lowered | In-Line | $170 → $165 |
| 2026-09-30 | HSBC | Upgrade | Hold → Buy | $125 → $190 |
| 2026-08-20 | Telsey Advisory Group | Target raised | Outperform | $170 → $182 |
| 2026-08-20 | Citigroup | Target raised | Neutral | $148 → $160 |
| 2026-08-20 | Goldman Sachs | Target raised | Neutral | $127 → $161 |
| 2026-08-20 | BMO Capital | Target raised | Market Perform | $150 → $160 |
| 2026-08-20 | Truist Securities | Target raised | Hold | $147 → $167 |
| 2026-08-20 | UBS | Target raised | Buy | $166 → $185 |
| 2026-08-20 | Barclays | Target raised | Underweight | $115 → $140 |
| 2026-08-20 | Piper Sandler | Target raised | Neutral | $146 → $153 |
| 2026-08-20 | Wells Fargo | Target raised | Overweight | $165 → $185 |
| 2026-08-20 | Evercore ISI Group | Target raised | In-Line | $150 → $170 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +74.5% | -27.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +74.9% | -6.3% |
| Volatility (annualized) | 30.7% | 35.0% |
| Max drawdown | -13.3% (Oct 2025→Nov 2025) | -63.1% (Nov 2021→Oct 2025) |

## Peers (Discount Stores)
DG (Dollar General Corporation) USD 139.11 +5.29% · DLTR (Dollar Tree, Inc.) USD 131.04 +4.43% · BJ (BJ's Wholesale Club Holdings, I) USD 106.63 +4.12% · COST (Costco Wholesale Corporation) USD 1,018.21 +1.99% · TBBB (BBB Foods Inc.) USD 57.6 -1.44% · OLLI (Ollie's Bargain Outlet Holdings) USD 92.63 +0.84%

## More
Full page: https://nexqual.com/TGT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name TGT in their own reports (relationship from TGT's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | SANFILIPPO JOHN B & SON INC (JBSS) | 10-K 2026-08-19 | "Net sales to Target Corporation accounted for approximately 12% of our net sales for fiscal 2026, 11% for fiscal 2025 and 13% for fiscal 2024." |
| supplier | HELEN OF TROY LTD (HELE) | 10-K 2026-04-23 | "Sales to our third largest customer, Target Corporation, accounted for approximately 12%, 11% and 10% of our consolidated net sales revenue in fiscal 2026, 2025 and 2024, respectively." |
| competitor | Childrens Place, Inc. (PLCE) | 10-K 2026-04-10 | "Our primary competitors are specialty stores, mass merchants, and off-price stores, including Carter's, Inc., Target Corporation, Old Navy, GapKids, and babyGap (each of which is a division of The Gap…" |
| partner | Ulta Beauty, Inc. (ULTA) | 10-K 2026-03-26 | "On August 14, 2025, Ulta Beauty and Target announced a mutual agreement to not renew the Ulta Beauty at Target shop-in-shop partnership when the current agreement concludes in August 2026." |
| competitor | GameStop Corp. (GME) | 10-K 2026-03-24 | "In the United States, we compete with Walmart Stores, Inc. ("Walmart"), Target Corporation ("Target"), Best Buy Co., Inc. ("Best Buy") and Amazon.com, Inc. ("Amazon.com"), and other national and speci…" |
| competitor | ThredUp Inc. (TDUP) | 10-K 2026-03-02 | "•large online and discount retailers, such as Amazon.com, Inc., Target Corporation, and Walmart Inc.;" |
| partner | Vital Farms, Inc. (VITL) | 10-K 2026-02-26 | "We have reached a broad set of consumers through a variety of retail partners, including Albertsons, Kroger, Publix, Target, Walmart, Sprouts and Whole Foods." |
| supplier | NEWELL BRANDS INC. (NWL) | 10-K 2026-02-13 | "The Company's top-ten customers in 2025 included (in alphabetical order): Amazon.com Inc., Costco Wholesale Corporation, Grainger Inc., Office Depot Inc., Staples Inc., Target Corporation, The Home De…" |
| competitor | INGLES MARKETS INC (IMKTA) | 10-K 2025-11-26 | "competitors are, in alphabetical order, Aldi, Inc., Earth Fare, Inc., Food City (K-VA-T Food Stores, Inc.), Food Lion (Koninlijke Ahold Delhaize America N.V.), The Fresh Market, Inc., Harris Teeter (o…" |
| supplier | GRIFFON CORP (GFF) | 10-K 2025-11-19 | "CPP sells products throughout North America, Australia, New Zealand, the U.K. and Ireland through (1) home centers, such as The Home Depot, Inc. ("Home Depot"), Lowe's Companies Inc. ("Lowe's"), Rona …" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $2.05 | $1.90 | +7.7% | $26.45B | 31 |
| Next quarter (ends 2027-01-31) | $2.67 | $2.54 | +5.1% | $31.84B | 31 |
| Current fiscal year (ends 2027-01-31) | $10.24 | $8.36 | +22.5% | $110.19B | 36 |
| Next fiscal year (ends 2028-01-31) | $9.55 | $8.93 | +6.9% | $113.83B | 36 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-18): ±9.7%; earnings reaction alone ±6.5%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 32.7% | ±3.9% |
| 2026-11-06 | 14 | 32.1% | ±5.2% |
| 2026-11-13 | 21 | 31.9% | ±6.4% |
| 2026-11-20 | 28 | 42.7% | ±9.7% |
| 2026-11-27 | 35 | 41.4% | ±10.5% |
| 2026-12-04 | 42 | 39.7% | ±11.0% |
| 2026-12-18 | 56 | 38.5% | ±12.2% |
| 2027-01-15 | 84 | 34.5% | ±13.4% |