Bank of America Corp DE Boosts Stake in Target Corporation $TGT

Bank of America Corp DE boosted its position in shares of Target Corporation (NYSE:TGT - Free Report) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,575,880 shares of the retailer's stock after acquiring an additional 82,268 shares during the period. Bank of America Corp DE owned 1.01% of Target worth $597,656,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Winning Points Advisors LLC purchased a new position in shares of Target in the 4th quarter worth approximately $611,000. Franklin Resources Inc. grew its holdings in shares of Target by 2.4% in the fourth quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer's stock worth $605,507,000 after purchasing an additional 142,937 shares during the last quarter. Bogart Wealth LLC increased its position in shares of Target by 41.8% during the first quarter. Bogart Wealth LLC now owns 111,001 shares of the retailer's stock worth $13,453,000 after acquiring an additional 32,746 shares during the period. Munich Reinsurance Co Stock Corp in Munich purchased a new position in Target during the 1st quarter worth $6,686,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Target during the 4th quarter worth $27,470,000. 79.73% of the stock is owned by institutional investors.

Target Stock Down 2.8%

TGT stock opened at $154.22 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average of $150.85 and a two-hundred day moving average of $133.80. Target Corporation has a 12 month low of $83.44 and a 12 month high of $170.75. The company has a market cap of $70.06 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 2.95 and a beta of 0.99.

Target (NYSE:TGT - Get Free Report) last posted its earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%.The company had revenue of $26.54 billion for the quarter, compared to the consensus estimate of $26.13 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The company'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. As a group, analysts forecast that Target Corporation will post 8.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Target

In other Target news, CAO Matthew Liegel sold 926 shares of the 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 directly owned 12,266 shares in the company, valued at $2,005,613.66. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Melissa Kremer sold 15,500 shares of Target stock in a transaction on Monday, August 24th. The stock was sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the sale, the insider owned 56,981 shares in the company, valued at $9,684,490.76. This represents a 21.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TGT shares. Mizuho set a $150.00 price objective on Target in a report on Thursday, August 20th. Wolfe Research set a $169.00 price target on shares of Target in a report on Monday, August 3rd. Guggenheim boosted their target price on Target from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. UBS Group upped their price target on shares of Target from $166.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Finally, Jefferies Financial Group increased their price objective on Target from $161.00 to $177.00 and gave the company a "buy" rating in a report on Friday, August 14th. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Target currently has an average rating of "Hold" and a consensus price target of $159.52.

Target Profile

Target Corporation is a general merchandise retailer that operates stores and digital shopping channels across the United States. Its assortment includes apparel and accessories, beauty products, home furnishings and décor, electronics, toys, sporting goods, household essentials, groceries and other everyday merchandise.

Target offers a combination of in-store and digital services, including order pickup, Drive Up and same-day delivery through Shipt. The company also develops and sells a broad portfolio of owned brands, while offering national-brand products and merchandise through a range of seasonal and specialty categories.

The company traces its history to the Dayton Company, founded in Minneapolis in 1902.

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