denkapparat Operations GmbH purchased a new stake in shares of Target Corporation (NYSE:TGT – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 4,600 shares of the retailer’s stock, valued at approximately $601,000.
A number of other hedge funds also recently modified their holdings of TGT. BlackRock Inc. bought a new position in Target in the second quarter worth $5,054,604,000. State Street Corp raised its stake in shares of Target by 0.3% in the 4th quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock valued at $3,692,265,000 after buying an additional 124,468 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Target by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock worth $1,668,194,000 after acquiring an additional 561,898 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Target during the 2nd quarter valued at about $831,466,000. Finally, Franklin Resources Inc. boosted 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 valued at $605,507,000 after acquiring an additional 142,937 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on TGT shares. Citigroup lifted 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. TD Cowen upped their target price on shares of Target from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Thursday, August 20th. Roth Capital reaffirmed a “neutral” rating and set a $142.00 price objective on shares of Target in a report on Thursday, August 20th. Wells Fargo & Company increased their price objective on Target from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Finally, BMO Capital Markets lifted their target price on Target from $150.00 to $160.00 and gave the company a “market perform” rating in a research note on Thursday, August 20th. Eleven analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $159.52.
Insider Activity at Target
In related news, insider Melissa K. Kremer sold 15,500 shares of the business’s 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 of the company’s stock, valued at approximately $9,684,490.76. The trade was a 21.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 926 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $163.51, for a total value of $151,410.26. Following the completion of the sale, the chief accounting officer owned 12,266 shares in the company, valued at approximately $2,005,613.66. This trade represents a 7.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is owned by corporate insiders.
Target Price Performance
Shares of TGT opened at $164.15 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 company’s fifty day simple moving average is $146.84 and its 200 day simple moving average is $131.57. 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 $74.57 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 3.05 and a beta of 0.99.
Target (NYSE:TGT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The firm had revenue of $26.54 billion during the quarter, compared to analysts’ expectations of $26.13 billion. During the same quarter last year, the company posted $2.05 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, research analysts forecast that Target Corporation will post 8.85 earnings per share for the current fiscal year.
Target Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.8%. This is a boost from Target’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Wednesday, August 12th. Target’s dividend payout ratio (DPR) is presently 48.18%.
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.
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