37,195 Shares of Target Corporation $TGT Bought by AIA Group Ltd

Key Points

• AIA Group acquired 37,195 Target shares in the third quarter, valued at approximately $5.83 million; institutional investors and hedge funds collectively own 79.73% of the stock.
• Target reported quarterly earnings of $4.11 per share, beating the $2.35 consensus estimate, while revenue rose 5.3% year over year to $26.54 billion.
• Analysts have a consensus Hold rating and an average price target of $161.50. Target also announced a quarterly dividend of $1.16 per share, equivalent to a 2.8% yield.

AIA Group Ltd purchased a new stake in Target Corporation (NYSE:TGT - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 37,195 shares of the retailer's stock, valued at approximately $5,828,000.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Target during the second quarter worth about $5,054,604,000. Bank of New York Mellon Corp purchased a new stake in shares of Target during the second quarter worth approximately $831,466,000. Dimensional Fund Advisors LP increased its stake in shares of Target by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,413,840 shares of the retailer's stock worth $656,091,000 after buying an additional 411,608 shares during the period. Bank of America Corp DE increased its stake in shares of Target by 1.8% during the second quarter. Bank of America Corp DE now owns 4,575,880 shares of the retailer's stock worth $597,656,000 after buying an additional 82,268 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Target by 12.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,514,522 shares of the retailer's stock valued at $589,642,000 after acquiring an additional 514,155 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Insider Activity at Target

In other news, insider Melissa K. Kremer sold 15,500 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 56,981 shares in the company, valued at approximately $9,684,490.76. This trade represents a 21.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Matthew A. 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 transaction, the chief accounting officer 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 SEC filing for this sale provides additional information. Corporate insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. KeyCorp reiterated a "sector weight" rating on shares of Target in a research note on Thursday, August 20th. BMO Capital Markets boosted their price objective on shares of Target from $150.00 to $160.00 and gave the stock a "market perform" rating in a research report on Thursday, August 20th. Guggenheim lifted their price target on Target from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Wells Fargo & Company upped their target price on shares of Target from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday, August 20th. Finally, Sanford C. Bernstein reaffirmed 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $161.50.

Target Trading Up 5.7%

NYSE TGT opened at $163.26 on Thursday. 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 company has a market cap of $74.17 billion, a P/E ratio of 16.95, a P/E/G ratio of 2.86 and a beta of 0.94. The company has a 50-day moving average of $156.68 and a 200-day moving average 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 earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.35 by $1.76. The firm 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% compared to the same quarter last year. During the same quarter last 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, equities analysts predict that Target Corporation will post 8.91 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 11th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 10th. Target's dividend payout ratio is presently 48.18%.

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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