Allstate Corp Purchases 17,607 Shares of Target Corporation $TGT

Key Points

• Allstate Corp significantly increased its Target stake by 105.7% in the fourth quarter, buying 17,607 additional shares and bringing its total holdings to 34,263 shares valued at about $3.35 million.
• Target reported stronger-than-expected quarterly results, posting EPS of $1.71 versus $1.47 expected and revenue of $25.44 billion versus $24.66 billion expected, with revenue up 6.7% year over year.
• The company also highlighted shareholder returns and mixed analyst sentiment, announcing a $1.14 quarterly dividend while Wall Street’s average rating remains “Hold,” with an average price target of $125.93.

Allstate Corp lifted its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 105.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 34,263 shares of the retailer's stock after acquiring an additional 17,607 shares during the period. Allstate Corp's holdings in Target were worth $3,349,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Auxano Advisors LLC increased its position in shares of Target by 3.0% in the fourth quarter. Auxano Advisors LLC now owns 3,193 shares of the retailer's stock valued at $312,000 after acquiring an additional 93 shares during the period. Neumann Capital Management LLC increased its position in shares of Target by 0.8% in the fourth quarter. Neumann Capital Management LLC now owns 13,280 shares of the retailer's stock valued at $1,298,000 after acquiring an additional 100 shares during the period. Binnacle Investments Inc increased its position in shares of Target by 11.4% in the second quarter. Binnacle Investments Inc now owns 1,013 shares of the retailer's stock valued at $100,000 after acquiring an additional 104 shares during the period. Mission Wealth Management LP increased its position in shares of Target by 1.6% in the fourth quarter. Mission Wealth Management LP now owns 6,937 shares of the retailer's stock valued at $678,000 after acquiring an additional 106 shares during the period. Finally, JNBA Financial Advisors increased its position in shares of Target by 3.4% in the fourth quarter. JNBA Financial Advisors now owns 3,361 shares of the retailer's stock valued at $329,000 after acquiring an additional 110 shares during the period. 79.73% of the stock is owned by institutional investors.

Insider Activity at Target

In other Target news, CAO Matthew A. Liegel sold 2,053 shares of Target stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total value of $240,591.07. Following the completion of the transaction, the chief accounting officer directly owned 12,143 shares of the company's stock, valued at $1,423,038.17. This trade represents a 14.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is owned by insiders.

Target Stock Up 2.2%

Shares of Target stock opened at $128.25 on Thursday. The company has a market cap of $58.25 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01. The company's 50 day moving average is $123.07 and its 200 day moving average is $110.49. Target Corporation has a twelve month low of $83.44 and a twelve month high of $133.10. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.24. The company had revenue of $25.44 billion for the quarter, compared to analysts' expectations of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.Target's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Research analysts anticipate that Target Corporation will post 8.35 EPS for the current year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 13th will be paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, May 13th. Target's dividend payout ratio (DPR) is presently 60.24%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TGT shares. Weiss Ratings restated a "hold (c)" rating on shares of Target in a research report on Monday, May 4th. Wells Fargo & Company boosted their price target on shares of Target from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, May 12th. Piper Sandler boosted their price target on shares of Target from $121.00 to $127.00 and gave the company a "neutral" rating in a research report on Thursday, May 21st. UBS Group boosted their price target on shares of Target from $130.00 to $144.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Finally, Guggenheim reiterated a "buy" rating and set a $140.00 price target on shares of Target in a research report on Wednesday, May 20th. Eleven analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $125.93.

About Target

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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