ProShare Advisors LLC lowered its holdings in shares of Target Corporation (NYSE:TGT – Free Report) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,266,868 shares of the retailer’s stock after selling 35,220 shares during the quarter. ProShare Advisors LLC owned 0.28% of Target worth $198,506,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in TGT. Vise Technologies Inc. purchased a new stake in Target in the third quarter valued at about $5,850,000. Intrua Financial LLC purchased a new stake in Target in the third quarter valued at $210,000. Moss Adams Wealth Advisors LLC purchased a new position in Target during the third quarter valued at approximately $322,000. MGO One Seven LLC increased its holdings in shares of Target by 1.6% during the 3rd quarter. MGO One Seven LLC now owns 12,141 shares of the retailer’s stock valued at $1,894,000 after purchasing an additional 197 shares in the last quarter. Finally, Sagace Wealth Management LLC acquired a new stake in Target during the third quarter valued at $345,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Target
In related news, CAO Matthew Liegel sold 926 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 12,266 shares in the company, valued at $2,005,613.66. The trade was a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Melissa Kremer sold 15,500 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the sale, the insider directly owned 56,981 shares of the company’s stock, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.13% of the company’s stock.
Target Price Performance
Shares of NYSE TGT opened at $153.70 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36. Target Corporation has a 1-year low of $83.44 and a 1-year high of $170.75. The business has a 50-day moving average of $157.12 and a 200-day moving average of $133.81. The company has a market capitalization of $69.83 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 2.86 and a beta of 0.98.
Target (NYSE:TGT – Get Free Report) last announced its earnings results 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 analyst estimates of $26.13 billion. During the same period in the prior year, the company posted $2.05 EPS. Target’s quarterly revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, equities analysts anticipate that Target Corporation will post 8.89 EPS for the current fiscal year.
Target Dividend Announcement
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 paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $4.64 annualized dividend and a yield of 3.0%. Target’s payout ratio is presently 48.18%.
Analysts Set New Price Targets
Several research analysts have recently weighed in on TGT shares. JPMorgan Chase & Co. upped their target price on Target from $129.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Telsey Advisory Group raised their target price on Target from $170.00 to $182.00 and gave the stock an “outperform” rating in a research note on Thursday, August 20th. Wall Street Zen upgraded shares of Target from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 5th. The Goldman Sachs Group reissued a “neutral” rating on shares of Target in a research note on Friday, September 25th. Finally, Mizuho set a $150.00 price target on Target in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $159.33.
Target 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.
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