Candriam S.C.A. Sells 2,759 Shares of Target Corporation $TGT

Key Points

• Candriam S.C.A. has reduced its stake in Target Corporation by 6.2%, resulting in a total holding of 41,868 shares valued at approximately $4.37 million.
• Several major institutional investors significantly increased their stakes in Target during the first quarter, with Charles Schwab Investment Management raising its holdings by 407.8%.
• Target recently declared a quarterly dividend of $1.12 per share, with a yield of 4.5%, reflecting a solid payout ratio of 50.11%.

Candriam S.C.A. lessened its holdings in Target Corporation (NYSE:TGT - Free Report) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,868 shares of the retailer's stock after selling 2,759 shares during the quarter. Candriam S.C.A.'s holdings in Target were worth $4,369,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TGT. Bernard Wealth Management Corp. bought a new stake in shares of Target in the fourth quarter worth $29,000. Heck Capital Advisors LLC bought a new stake in shares of Target in the fourth quarter worth $40,000. Atwood & Palmer Inc. raised its position in Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after acquiring an additional 352 shares in the last quarter. Abound Financial LLC bought a new stake in Target during the first quarter worth $43,000. Finally, Bellwether Advisors LLC bought a new stake in Target during the fourth quarter worth $47,000. Institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on TGT shares. Truist Financial upped their price target on shares of Target from $90.00 to $107.00 and gave the stock a "hold" rating in a research report on Wednesday, August 13th. DA Davidson dropped their price target on shares of Target from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Jefferies Financial Group dropped their price target on shares of Target from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Wells Fargo & Company dropped their price target on shares of Target from $135.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Finally, Barclays reissued an "underweight" rating and issued a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Ten investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $113.74.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the transaction, the insider owned 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Target Price Performance

Shares of TGT stock traded down $2.19 on Monday, reaching $97.05. The company had a trading volume of 7,637,181 shares, compared to its average volume of 7,662,069. The stock has a market capitalization of $44.10 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 2.86 and a beta of 1.22. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. Target Corporation has a one year low of $87.35 and a one year high of $161.84. The business's 50-day moving average is $102.06 and its 200 day moving average is $103.18.

Target (NYSE:TGT - Get Free Report) last posted its earnings results on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. The firm had revenue of $24.99 billion during the quarter, compared to analysts' expectations of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. The business's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is 53.15%.

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.