Alps Advisors Inc. Sells 16,984 Shares of Target Corporation $TGT

Key Points

• Alps Advisors cut its Target stake by 8.3%, selling 16,984 shares in the third quarter; it still held 186,736 shares valued at about $29.3 million.
• Target reported quarterly earnings of $4.11 per share, beating the $2.35 analyst consensus, while revenue rose 5.3% year over year to $26.54 billion.
• Target declared a quarterly dividend of $1.16 per share, equivalent to an annualized yield of 2.9%; analysts’ consensus rating was “Hold,” with a $161.50 average price target.

Alps Advisors Inc. decreased its position in shares of Target Corporation (NYSE:TGT - Free Report) by 8.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 186,736 shares of the retailer's stock after selling 16,984 shares during the quarter. Alps Advisors Inc.'s holdings in Target were worth $29,260,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Target in the 2nd quarter valued at $5,054,604,000. Bank of New York Mellon Corp acquired a new stake in Target in the 2nd quarter valued at $831,466,000. Jupiter Topco LLC acquired a new position in Target in the second quarter valued at approximately $320,006,000. Deutsche Bank AG bought a new stake in shares of Target during the 2nd quarter worth $224,238,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Target in the second quarter valued at approximately $150,784,000. 79.73% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Melissa K. Kremer sold 15,500 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 56,981 shares of the company's stock, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 926 shares of the stock in a transaction dated 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 owned 12,266 shares in the company, valued at approximately $2,005,613.66. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is owned by corporate insiders.

Target Stock Up 0.1%

NYSE TGT opened at $158.16 on Friday. The stock's 50-day moving average price is $156.41 and its 200-day moving average price is $135.02. The company has a market capitalization of $71.85 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 2.93 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. Target Corporation has a 52 week low of $83.44 and a 52 week high of $170.75.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data 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. Target had a net margin of 4.08% and a return on equity of 23.23%. The company had revenue of $26.54 billion during the quarter, compared to analysts' expectations of $26.13 billion. During the same quarter in the previous year, the company earned $2.05 earnings per share. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, equities research analysts predict that Target Corporation will post 8.91 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 11th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, November 10th. Target's dividend payout ratio (DPR) is presently 48.18%.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $161.00 price objective (up from $127.00) on shares of Target in a research note on Friday, September 25th. Roth Capital reaffirmed a "neutral" rating and issued a $142.00 target price (up from $114.00) on shares of Target in a research report on Thursday, August 20th. Wells Fargo & Company upped their price objective on Target from $165.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, August 20th. Royal Bank Of Canada lifted their price target on Target from $166.00 to $178.00 and gave the company an "outperform" rating in a research note on Thursday, August 20th. Finally, Guggenheim lifted their target price on Target from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Target has a consensus rating of "Hold" and a consensus target price of $161.50.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.