APG Asset Management N.V. Sells 36,632 Shares of Target Corporation $TGT

Key Points

• APG Asset Management N.V. sold 36,632 shares of Target Corporation, reducing its holdings by 10.2% and owning 320,961 shares worth approximately $31 million.
• Institutional investors continue to modify their stakes, with Charles Schwab Investment Management increasing its ownership by 407.8% during the same quarter.
• Target recently announced a quarterly dividend of $1.12 per share, representing a 4.5% yield and a payout ratio of 53.15%.

APG Asset Management N.V. lowered its holdings in Target Corporation (NYSE:TGT - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 320,961 shares of the retailer's stock after selling 36,632 shares during the quarter. APG Asset Management N.V. owned 0.07% of Target worth $31,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TGT. Charles Schwab Investment Management Inc. increased its stake in Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock valued at $1,666,672,000 after acquiring an additional 12,825,586 shares during the period. Pacer Advisors Inc. boosted its position in Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock valued at $343,312,000 after buying an additional 3,065,035 shares in the last quarter. Nuveen LLC acquired a new position in Target in the first quarter valued at about $186,361,000. Ameriprise Financial Inc. boosted its position in Target by 61.2% in the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock valued at $536,407,000 after buying an additional 1,506,275 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Target by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock valued at $560,420,000 after buying an additional 1,406,653 shares in the last quarter. Institutional investors own 79.73% of the company's stock.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the transaction, the insider directly owned 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on TGT. Robert W. Baird set a $100.00 price target on shares of Target in a research report on Thursday, May 22nd. Mizuho reduced their price target on shares of Target from $92.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Telsey Advisory Group restated a "market perform" rating and issued a $110.00 price target on shares of Target in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Target from $105.00 to $109.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Finally, Bank of America restated an "underperform" rating and issued a $93.00 price target (down from $105.00) on shares of Target in a research report on Friday, August 15th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $113.74.

Target Price Performance

TGT opened at $98.9880 on Friday. Target Corporation has a one year low of $87.35 and a one year high of $161.84. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.25. The company's 50 day simple moving average is $102.06 and its 200-day simple moving average is $103.64. The stock has a market capitalization of $44.98 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 2.86 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. During the same period in the prior year, the firm earned $2.57 earnings per share. Target's revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.5%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio is currently 53.15%.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.

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