Bank of New York Mellon Corp Acquires 126,362 Shares of Target Corporation $TGT

Bank of New York Mellon Corp raised its holdings in Target Corporation (NYSE:TGT - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,000,198 shares of the retailer's stock after purchasing an additional 126,362 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.66% of Target worth $363,624,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WFA of San Diego LLC acquired a new position in Target during the 2nd quarter worth $25,000. Jessup Wealth Management Inc acquired a new position in shares of Target during the fourth quarter valued at $25,000. Altshuler Shaham Ltd acquired a new position in shares of Target during the fourth quarter valued at $26,000. Global Wealth Strategies & Associates boosted its holdings in Target by 192.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer's stock valued at $29,000 after acquiring an additional 192 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Target in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Stock Down 0.2%

NYSE:TGT opened at $139.93 on Friday. Target Corporation has a 1 year low of $83.44 and a 1 year high of $144.40. The stock has a 50-day moving average price of $129.35 and a two-hundred day moving average price of $120.43. The stock has a market cap of $63.55 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.74 and a beta of 0.98. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.24. The business 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, equities analysts expect that Target Corporation will post 8.35 earnings per share for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a boost from Target's previous quarterly dividend of $1.14. Target's dividend payout ratio (DPR) is currently 60.24%.

Analysts Set New Price Targets

Several analysts have weighed in on TGT shares. Argus set a $150.00 price objective on Target in a report on Friday, May 22nd. Truist Financial increased their price objective on shares of Target from $123.00 to $130.00 and gave the company a "hold" rating in a report on Wednesday, May 20th. Roth Capital reaffirmed a "neutral" rating and set a $114.00 target price on shares of Target in a report on Friday, May 22nd. Barclays reissued an "underweight" rating on shares of Target in a research note on Monday, June 1st. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of Target in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $131.96.

Insider Transactions at Target

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the completion of the transaction, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company's stock.

Target Profile

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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