Bank of New York Mellon Corp Invests $831.47 Million in Target Corporation $TGT

Bank of New York Mellon Corp bought a new position in shares of Target Corporation (NYSE:TGT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,366,019 shares of the retailer's stock, valued at approximately $831,466,000. Bank of New York Mellon Corp owned approximately 1.40% of Target as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. WFA of San Diego LLC acquired a new stake in Target in the 2nd quarter worth about $25,000. Jessup Wealth Management Inc acquired a new position in shares of Target during the fourth quarter valued at approximately $25,000. Altshuler Shaham Ltd acquired a new position in shares of Target during the fourth quarter valued at approximately $26,000. MidFirst Bank purchased a new position in shares of Target in the fourth quarter valued at approximately $31,000. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Target by 245.6% in the first quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer's stock valued at $33,000 after acquiring an additional 194 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Key Target News

Here are the key news stories impacting Target this week:

• Positive Sentiment: Target reported second-quarter sales of $26.54 billion, up 5.3% year over year and ahead of estimates. Comparable sales rose 3.8%, supported by a 3.6% increase in traffic, while earnings significantly exceeded Wall Street expectations. Target Corporation Reports Second Quarter Earnings
• Positive Sentiment: Management raised its fiscal 2026 outlook, calling for approximately 5% sales growth and EPS of $9.90 to $10.90. Improving traffic, digital sales, merchandising and execution suggest that Target’s turnaround is gaining traction. Target lifts annual forecasts again
• Positive Sentiment: Several analysts raised their price targets following the earnings report. RBC increased its target to $178 and maintained an “outperform” rating, implying meaningful upside, while Citigroup and TD Cowen raised targets to $160. Analyst price-target updates
• Neutral Sentiment: Target’s dividend remains attractive to income investors, with a quarterly payout of $1.16 per share after a recent increase. However, the stock’s roughly 15% one-month rally leaves less room for additional gains if operating momentum slows. Target versus Walmart dividend comparison
• Negative Sentiment: Second-quarter profitability benefited from an approximately $994 million tariff refund. Investors may therefore view part of the earnings beat and upgraded outlook as nonrecurring, raising concerns about the quality and sustainability of underlying profits. Target raises guidance as tariff refunds boost profitability
• Negative Sentiment: Valuation and execution risks are limiting enthusiasm. KeyCorp reaffirmed a “sector weight” rating, while Citi and TD Cowen remain effectively neutral or hold-rated, suggesting analysts believe much of the recovery is already reflected in TGT’s share price. Target valuation analysis

Target Stock Down 0.6%

NYSE TGT opened at $158.04 on Friday. The business's fifty day simple moving average is $140.21 and its 200-day simple moving average is $127.75. The company has a quick ratio of 0.30, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. The firm has a market cap of $71.78 billion, a PE ratio of 16.41, a P/E/G ratio of 2.09 and a beta of 0.97. Target Corporation has a 52 week low of $83.44 and a 52 week high of $161.98.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The firm had revenue of $26.54 billion during the quarter, compared to analysts' expectations of $26.13 billion. During the same period last year, the business earned $2.05 earnings per share. Target's revenue was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, equities analysts anticipate that Target Corporation will post 10.4 earnings per share for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be paid a $1.16 dividend. This is a positive change from Target's previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 2.9%. Target's dividend payout ratio is currently 61.29%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent research reports. Mizuho set a $150.00 price objective on Target in a research note on Thursday. Telsey Advisory Group lifted their target price on shares of Target from $170.00 to $182.00 and gave the stock an "outperform" rating in a research note on Thursday. The Goldman Sachs Group upped their target price on shares of Target from $127.00 to $161.00 and gave the stock a "neutral" rating in a report on Thursday. Evercore set a $170.00 target price on shares of Target in a research report on Thursday. Finally, Argus set a $150.00 price target on shares of Target in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $159.52.

Insider Activity

In other news, insider Cara A. Sylvester sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the completion of the sale, the insider owned 45,930 shares in the company, valued at $5,782,127.70. This trade represents a 17.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by corporate insiders.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source