Inscription Capital LLC lowered its position in Target Corporation (NYSE:TGT – Free Report) by 47.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,121 shares of the retailer’s stock after selling 5,618 shares during the period. Inscription Capital LLC’s holdings in Target were worth $959,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of TGT. Washington Trust Advisors Inc. raised its position in shares of Target by 28.5% during the 3rd quarter. Washington Trust Advisors Inc. now owns 293 shares of the retailer’s stock valued at $46,000 after buying an additional 65 shares in the last quarter. E Fund Management Co. Ltd. boosted its holdings in shares of Target by 4.1% in the 2nd quarter. E Fund Management Co. Ltd. now owns 1,747 shares of the retailer’s stock worth $228,000 after purchasing an additional 68 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Target by 3.5% in the 3rd quarter. Avior Wealth Management LLC now owns 2,173 shares of the retailer’s stock worth $341,000 after purchasing an additional 73 shares in the last quarter. Wynn Capital LLC increased its position in shares of Target by 0.9% during the 2nd quarter. Wynn Capital LLC now owns 8,455 shares of the retailer’s stock valued at $1,104,000 after purchasing an additional 79 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in shares of Target by 0.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 16,069 shares of the retailer’s stock valued at $2,518,000 after purchasing an additional 79 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.
Target Trading Up 0.1%
Shares of NYSE TGT traded up $0.21 during midday trading on Friday, hitting $158.16. 2,991,900 shares of the company traded hands, compared to its average volume of 3,879,900. Target Corporation has a 12-month low of $83.44 and a 12-month high of $170.75. The firm has a market cap of $71.85 billion, a P/E ratio of 16.42, a P/E/G ratio of 2.93 and a beta of 0.94. The stock has a 50-day moving average price of $156.41 and a 200 day moving average price of $135.02. 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:TGT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, topping the consensus estimate of $2.35 by $1.76. The company had revenue of $26.54 billion for the quarter, compared to analysts’ expectations of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, analysts expect that Target Corporation will post 8.91 earnings per share for the current year.
Target Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 11th will be paid a $1.16 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $4.64 dividend on an annualized basis and a yield of 2.9%. Target’s payout ratio is presently 48.18%.
Insider Activity
In other news, CAO Matthew A. Liegel sold 926 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $163.51, for a total transaction of $151,410.26. Following the transaction, the chief accounting officer directly owned 12,266 shares of the company’s stock, valued at $2,005,613.66. This represents a 7.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Melissa K. Kremer sold 15,500 shares of the company’s stock in a transaction dated 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 $9,684,490.76. The trade was a 21.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on TGT. Guggenheim boosted their target price on Target from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Jefferies Financial Group boosted their price objective on shares of Target from $161.00 to $177.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Telsey Advisory Group lifted their target price on shares of Target from $170.00 to $182.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Sanford C. Bernstein reiterated a “market perform” rating and set a $154.00 price target (up from $135.00) on shares of Target in a report on Thursday, August 20th. Finally, Oppenheimer upgraded shares of Target from a “hold” rating to a “buy” rating and boosted their price objective for the company from $125.00 to $190.00 in a research report on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Target presently has an average rating of “Hold” and a consensus price target of $161.50.
View Our Latest Analysis on TGT
Target Profile
Target Corporation is a U.S. general merchandise retailer that sells products through its stores and digital channels. Its assortment includes apparel and accessories, beauty products, home goods, groceries, electronics, toys, and household essentials, along with merchandise from national brands and Target-owned brands.
The company also offers services such as in-store and curbside order pickup and same-day delivery in eligible areas. Target serves customers across the United States.
The company traces its history to the Dayton Dry Goods Company, founded in Minneapolis in 1902.
Further Reading
- Five stocks we like better than Target
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
- Airbnb Defied a Brutal Tech Sell-Off, But Can Its Post-Earnings Rally Last?
- MarketBeat Week in Review – 11/2 – 11/6
Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corporation (NYSE:TGT – Free Report).
Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.
