Ninety One UK Ltd bought a new stake in shares of Target Corporation (NYSE:TGT – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,673 shares of the retailer’s stock, valued at approximately $576,000.
A number of other large investors have also recently added to or reduced their stakes in the business. WealthPlan Investment Management LLC bought a new position in shares of Target in the third quarter valued at $277,000. B.A. Schrock Wealth Management Inc. acquired a new stake in shares of Target during the 3rd quarter valued at $6,704,000. Fortitude Family Office LLC boosted its stake in shares of Target by 90.2% during the 3rd quarter. Fortitude Family Office LLC now owns 892 shares of the retailer’s stock worth $140,000 after acquiring an additional 423 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its stake in shares of Target by 2.4% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 18,765 shares of the retailer’s stock worth $2,940,000 after acquiring an additional 440 shares in the last quarter. Finally, Sanders Morris Harris LLC bought a new stake in shares of Target during the 3rd quarter worth $485,000. 79.73% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on TGT shares. Citigroup lifted their target price on Target from $148.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $154.00 target price on shares of Target in a report on Thursday, August 20th. Roth Capital reaffirmed a “neutral” rating and set a $142.00 target price on shares of Target in a report on Thursday, August 20th. JPMorgan Chase & Co. increased their price target on Target from $129.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft set a $150.00 price target on Target in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Target presently has an average rating of “Hold” and a consensus price target of $159.33.
View Our Latest Analysis on TGT
Insider Buying and Selling at Target
In other news, insider Melissa K. Kremer sold 15,500 shares of the stock in a transaction on Monday, August 24th. The stock was 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 owned 56,981 shares in the company, valued at $9,684,490.76. This represents a 21.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew A. Liegel sold 926 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was 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 directly owned 12,266 shares of the company’s stock, 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 insiders.
Target Stock Up 0.9%
TGT stock opened at $156.66 on Friday. Target Corporation has a 52-week low of $83.44 and a 52-week high of $170.75. The company’s 50 day simple moving average is $157.67 and its 200-day simple moving average is $139.80. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36. The firm has a market capitalization of $71.17 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.88 and a beta of 0.98.
Target (NYSE:TGT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, beating the consensus estimate of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The business had revenue of $26.54 billion during the quarter, compared to the consensus estimate of $26.13 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The firm’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. As a group, equities research analysts anticipate that Target Corporation will post 8.89 EPS for the current year.
Target Dividend Announcement
The company 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. This represents a $4.64 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, November 10th. Target’s payout ratio is 48.18%.
Target Profile
Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping channels under the Target brand. The company sells a broad assortment of products, including apparel and accessories, beauty and personal care items, home furnishings, electronics, groceries, toys, seasonal merchandise and everyday essentials.
Target offers private-label brands alongside national brands and provides services such as Order Pickup, Drive Up and same-day delivery through Shipt.
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