Target (NYSE:TGT) Insider Sells $2,634,380.00 in Stock

Target Corporation (NYSE:TGTGet Free Report) insider Melissa Kremer sold 15,500 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $169.96, for a total value of $2,634,380.00. Following the completion of the sale, the insider directly owned 56,981 shares in the company, valued at approximately $9,684,490.76. The trade was a 21.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Target Trading Up 0.2%

Shares of TGT traded up $0.38 during midday trading on Wednesday, hitting $163.85. 4,552,328 shares of the stock were exchanged, compared to its average volume of 5,465,748. Target Corporation has a 52-week low of $83.44 and a 52-week high of $170.75. The stock has a fifty day simple moving average of $142.15 and a 200 day simple moving average of $128.90. The firm has a market cap of $74.42 billion, a P/E ratio of 17.01, a P/E/G ratio of 3.15 and a beta of 0.97. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99.

Target (NYSE:TGTGet Free Report) last posted its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%.The firm had revenue of $26.54 billion for the quarter, compared to the consensus estimate of $26.13 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The company’s quarterly 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. On average, research analysts anticipate that Target Corporation will post 8.88 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be paid 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 is Wednesday, August 12th. Target’s payout ratio is currently 48.18%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Target from $129.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Zacks Research lowered shares of Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. Wells Fargo & Company raised their price target on shares of Target from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Piper Sandler boosted their price target on shares of Target from $146.00 to $153.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. Finally, UBS Group upped their price objective on Target from $166.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $159.52.

Read Our Latest Analysis on TGT

Institutional Trading of Target

Hedge funds have recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. grew its holdings in shares of Target by 4.1% during the second quarter. E Fund Management Co. Ltd. now owns 1,747 shares of the retailer’s stock valued at $228,000 after buying an additional 68 shares during the last quarter. Wynn Capital LLC raised its stake in Target by 0.9% in the 2nd quarter. Wynn Capital LLC now owns 8,455 shares of the retailer’s stock worth $1,104,000 after acquiring an additional 79 shares during the last quarter. Whipplewood Advisors LLC lifted its position in Target by 16.0% during the 1st quarter. Whipplewood Advisors LLC now owns 580 shares of the retailer’s stock worth $70,000 after acquiring an additional 80 shares during the period. Prosperity Consulting Group LLC lifted its position in Target by 3.4% during the 1st quarter. Prosperity Consulting Group LLC now owns 2,474 shares of the retailer’s stock worth $300,000 after acquiring an additional 81 shares during the period. Finally, Versant Capital Management Inc grew its stake in Target by 3.4% during the 2nd quarter. Versant Capital Management Inc now owns 2,478 shares of the retailer’s stock valued at $324,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

About Target

(Get Free Report)

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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