18,311 Shares in Target Corporation $TGT Acquired by Associated Banc Corp

Key Points

• Associated Banc Corp acquired 18,311 Target shares in the third quarter, worth approximately $2.87 million. Institutional investors own 79.73% of Target’s stock.
• Target reported quarterly EPS of $4.11, beating the $2.35 consensus estimate, while revenue of $26.54 billion topped forecasts and rose 5.3% year over year.
• Target declared a quarterly dividend of $1.16 per share, equivalent to a 2.8% annualized yield. Analysts’ consensus rating is “Hold,” with an average price target of $161.50.

Associated Banc Corp bought a new position in shares of Target Corporation (NYSE:TGT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,311 shares of the retailer's stock, valued at approximately $2,869,000.

Several other large investors also recently bought and sold shares of the stock. Putney Financial Group LLC acquired a new position in shares of Target in the third quarter valued at about $28,000. First Nebraska Trust Co acquired a new stake in shares of Target during the third quarter worth about $563,000. GRIMES & Co WEALTH MANAGEMENT LLC lifted its holdings in shares of Target by 1.1% during the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 7,426 shares of the retailer's stock worth $1,164,000 after purchasing an additional 80 shares during the period. MBA Advisors LLC acquired a new stake in shares of Target during the third quarter worth about $230,000. Finally, Welch Group LLC boosted its position in Target by 2.7% in the third quarter. Welch Group LLC now owns 86,059 shares of the retailer's stock valued at $13,485,000 after buying an additional 2,250 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Target Stock Up 5.7%

Shares of Target stock opened at $163.26 on Thursday. The stock has a market capitalization of $74.17 billion, a P/E ratio of 16.95, a PEG ratio of 2.86 and a beta of 0.94. The company has a quick ratio of 0.36, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average price of $156.68 and a two-hundred day moving average price of $134.54. Target Corporation has a 12-month low of $83.44 and a 12-month high of $170.75.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $26.54 billion for the quarter, compared to analyst estimates of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Equities analysts expect that Target Corporation will post 8.91 earnings per share for the current year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors 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 2.8%. Target's dividend payout ratio is currently 48.18%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $150.00 price target (up from $145.00) on shares of Target in a report on Thursday, August 20th. Telsey Advisory Group lifted their price objective on shares of Target from $170.00 to $182.00 and gave the company an "outperform" rating in a report on Thursday, August 20th. Evercore set a $165.00 price target on shares of Target in a research note on Tuesday, October 13th. Mizuho set a $150.00 price objective on shares of Target and gave the stock a "neutral" rating in a research report on Thursday, August 20th. Finally, Roth Capital restated a "neutral" rating and set a $142.00 price target (up from $114.00) on shares of Target in a research report on Thursday, August 20th. 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $161.50.

Insider Transactions at Target

In other news, insider Melissa Kremer sold 15,500 shares of Target 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 completion of the transaction, the insider directly owned 56,981 shares in the company, valued at $9,684,490.76. This trade represents a 21.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew Liegel sold 926 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer owned 12,266 shares in the company, valued at $2,005,613.66. The trade was a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.13% of the company's stock.

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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