Banco Bilbao Vizcaya Argentaria S.A. Sells 17,552 Shares of Target Corporation $TGT

Key Points

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Banco Bilbao Vizcaya Argentaria S.A. decreased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 6.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 237,346 shares of the retailer's stock after selling 17,552 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. owned approximately 0.05% of Target worth $24,787,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TGT. Charles Schwab Investment Management Inc. boosted its stake in shares of Target by 407.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock valued at $1,666,672,000 after purchasing an additional 12,825,586 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Target by 1,364.3% during the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock valued at $343,312,000 after purchasing an additional 3,065,035 shares in the last quarter. Nuveen LLC bought a new stake in shares of Target during the 1st quarter valued at about $186,361,000. Ameriprise Financial Inc. boosted its stake in shares of Target by 61.2% during the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock valued at $536,407,000 after purchasing an additional 1,506,275 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Target by 35.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock valued at $560,420,000 after purchasing an additional 1,406,653 shares in the last quarter. Institutional investors own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

TGT has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Jefferies Financial Group dropped their price objective on shares of Target from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday. DA Davidson dropped their price objective on shares of Target from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. UBS Group dropped their price objective on shares of Target from $135.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Royal Bank Of Canada lifted their target price on shares of Target from $104.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $113.74.

Insider Buying and Selling at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the transaction, the insider owned 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Target Stock Performance

TGT stock traded up $1.9280 during midday trading on Friday, reaching $98.9880. 13,658,170 shares of the company's stock traded hands, compared to its average volume of 7,149,806. Target Corporation has a 52-week low of $87.35 and a 52-week high of $161.84. The stock has a market cap of $44.98 billion, a P/E ratio of 11.54, a PEG ratio of 2.84 and a beta of 1.22. The company has a current ratio of 0.99, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The stock's 50-day moving average is $101.99 and its 200 day moving average is $104.11.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $24.84 billion. During the same period in the prior year, the company earned $2.57 earnings per share. The firm's revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. As a group, analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio is presently 50.11%.

About Target

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.