Candriam S.C.A. Sells 23,119 Shares of Target Corporation $TGT

Key Points

• Candriam S.C.A. cut its Target stake by 12.4%, selling 23,119 shares in the third quarter and retaining 162,598 shares valued at about $25.6 million.
• Target reported quarterly EPS of $4.11, beating the $2.35 consensus, while revenue of $26.54 billion exceeded estimates and rose 5.3% year over year.
• Target announced a quarterly dividend of $1.16 per share (2.9% annualized yield). Analysts’ consensus rating was Hold, with an average price target of $161.50.

Candriam S.C.A. reduced its position in Target Corporation (NYSE:TGT - Free Report) by 12.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 162,598 shares of the retailer's stock after selling 23,119 shares during the quarter. Candriam S.C.A.'s holdings in Target were worth $25,571,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Nicholas Investment Partners LP boosted its holdings in Target by 204.3% in the 2nd quarter. Nicholas Investment Partners LP now owns 55,154 shares of the retailer's stock valued at $7,204,000 after purchasing an additional 37,030 shares in the last quarter. Saudi Central Bank increased its position in Target by 89.7% during the 2nd quarter. Saudi Central Bank now owns 31,700 shares of the retailer's stock worth $4,140,000 after purchasing an additional 14,986 shares during the period. Engineers Gate Manager LP raised its stake in shares of Target by 4,119.2% during the 2nd quarter. Engineers Gate Manager LP now owns 372,558 shares of the retailer's stock worth $48,660,000 after buying an additional 363,728 shares in the last quarter. Two Sigma Securities LLC purchased a new position in shares of Target during the 2nd quarter worth approximately $833,000. Finally, Neumann Capital Management LLC purchased a new position in shares of Target during the 3rd quarter worth approximately $2,457,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Insiders Place Their Bets

In other Target news, insider Melissa K. Kremer sold 15,500 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $169.96, for a total value of $2,634,380.00. Following the sale, the insider owned 56,981 shares of the company's stock, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew A. Liegel sold 926 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer owned 12,266 shares of the company's stock, valued at approximately $2,005,613.66. This represents a 7.02% decrease in their position. The SEC filing for this sale provides additional information. 0.13% of the stock is currently owned by insiders.

Target Trading Down 0.2%

Shares of Target stock opened at $158.16 on Monday. Target Corporation has a 12-month low of $83.44 and a 12-month high of $170.75. 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 stock has a market cap of $71.85 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.93 and a beta of 0.94. The company has a 50-day moving average of $156.41 and a two-hundred day moving average of $135.02.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, topping the consensus estimate of $2.35 by $1.76. The business had revenue of $26.54 billion for the quarter, compared to analyst estimates of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%. The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 EPS. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, research analysts anticipate that Target Corporation will post 8.91 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 11th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, November 10th. Target's payout ratio is presently 48.18%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TGT. Roth Capital restated a "neutral" rating and issued a $142.00 price target (up from $114.00) on shares of Target in a research note on Thursday, August 20th. BNP Paribas Exane increased their price objective on Target from $92.00 to $128.00 and gave the stock an "underperform" rating in a research report on Thursday, August 20th. Gordon Haskett cut their price objective on Target from $200.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, October 9th. Citigroup raised their target price on Target from $148.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, August 20th. Finally, UBS Group boosted their target price on shares of Target from $166.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $161.50.

About Target

Target Corporation is a U.S. general merchandise retailer that sells products through its stores and digital channels. Its assortment includes apparel and accessories, beauty products, home goods, groceries, electronics, toys, and household essentials, along with merchandise from national brands and Target-owned brands.

The company also offers services such as in-store and curbside order pickup and same-day delivery in eligible areas. Target serves customers across the United States.

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

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