Bank of New York Mellon Corp Sells 521,837 Shares of Target Corporation $TGT

Key Points

• Bank of New York Mellon cut its Target stake by 15.4% in the fourth quarter, selling 521,837 shares and leaving it with 2,873,836 shares worth about $280.9 million.
• Analysts remain cautious overall on Target: despite several higher price targets, the stock’s consensus rating is still “Hold” with an average target price of $125.93.
• Target’s latest quarter showed solid operating results, with EPS and revenue both beating expectations, and the company also paid a quarterly dividend of $1.14 per share, or $4.56 annualized.

Bank of New York Mellon Corp decreased its position in Target Corporation (NYSE:TGT - Free Report) by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,873,836 shares of the retailer's stock after selling 521,837 shares during the quarter. Bank of New York Mellon Corp owned 0.63% of Target worth $280,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Calton & Associates Inc. lifted its position in Target by 96.9% in the 4th quarter. Calton & Associates Inc. now owns 5,295 shares of the retailer's stock worth $518,000 after buying an additional 2,606 shares during the last quarter. Natixis Advisors LLC lifted its position in Target by 17.7% in the 4th quarter. Natixis Advisors LLC now owns 119,623 shares of the retailer's stock worth $11,693,000 after buying an additional 17,972 shares during the last quarter. Heritage Trust Co lifted its position in Target by 8.4% in the 4th quarter. Heritage Trust Co now owns 28,157 shares of the retailer's stock worth $2,752,000 after buying an additional 2,188 shares during the last quarter. Old Peak Finance LLC bought a new stake in Target in the 4th quarter worth approximately $370,000. Finally, Collar Capital Management LLC bought a new stake in Target in the 4th quarter worth approximately $3,503,000. Institutional investors own 79.73% of the company's stock.

Analysts Set New Price Targets

TGT has been the subject of a number of recent research reports. UBS Group boosted their target price on Target from $130.00 to $144.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. JPMorgan Chase & Co. boosted their price objective on Target from $120.00 to $129.00 and gave the company a "neutral" rating in a research report on Friday, May 15th. Mizuho set a $120.00 price objective on Target in a research report on Thursday, March 5th. Truist Financial boosted their price objective on Target from $123.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, May 20th. Finally, Oppenheimer boosted their price objective on Target from $130.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, March 4th. Eleven analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Target presently has a consensus rating of "Hold" and an average target price of $125.93.

More Target News

Here are the key news stories impacting Target this week:

• Positive Sentiment: Zacks Research lifted Target’s earnings estimates for FY2027, FY2028 and FY2029, suggesting analysts see improving profitability over the next few years. Target earnings estimate updates
• Positive Sentiment: The firm also raised near- to medium-term quarterly forecasts for Q2 2027, Q3 2027 and Q2 2028, which can be viewed as a sign of steadier earnings power. Target earnings estimate updates
• Neutral Sentiment: Target’s latest reported quarter had already beaten expectations, with revenue and EPS topping estimates and management guiding FY2026 EPS to $7.50-$8.50, so the stock is still trading against a generally solid earnings backdrop. Target quarterly earnings background
• Negative Sentiment: Zacks slightly lowered Q4 2027 and Q4 2028 EPS estimates, which may have tempered enthusiasm for the stock’s longer-term earnings trajectory. Target earnings estimate changes
• Negative Sentiment: A recent insider sale by an executive can sometimes add pressure on sentiment, even if it is not necessarily a fundamental red flag. Target insider sale

Insider Activity at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the business's stock in a transaction that occurred on 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 transaction, the insider directly owned 45,930 shares of the company's stock, valued at approximately $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 2,053 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total value of $240,591.07. Following the transaction, the chief accounting officer directly owned 12,143 shares in the company, valued at $1,423,038.17. This trade represents a 14.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by insiders.

Target Stock Performance

Shares of TGT stock opened at $124.02 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $133.10. The company has a market capitalization of $56.33 billion, a P/E ratio of 16.38, a PEG ratio of 2.44 and a beta of 1.00. The stock has a 50 day moving average price of $124.31 and a two-hundred day moving average price of $111.94.

Target (NYSE:TGT - Get Free Report) last posted its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm had revenue of $25.44 billion for the quarter, compared to analysts' expectations of $24.66 billion. During the same period in the previous year, the firm earned $1.30 earnings per share. The business's revenue was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Analysts expect that Target Corporation will post 8.35 earnings per share for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 13th were paid a dividend of $1.14 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $4.56 annualized dividend and a dividend yield of 3.7%. Target's payout ratio is 60.24%.

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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