Cary Street Partners Financial LLC Sells 18,289 Shares of Target Corporation $TGT

Key Points

• Cary Street Partners Financial LLC cut its Target stake by 60.8% in Q4, selling 18,289 shares and leaving it with 11,781 shares worth about $1.15 million.
• Target reported stronger-than-expected quarterly results, with EPS of $1.71 versus $1.47 expected and revenue of $25.44 billion, up 6.7% year over year.
• The retailer declared a $1.14 quarterly dividend payable June 1, implying a 3.5% annualized yield, while analysts currently rate the stock a consensus Hold with a $125.93 target price.

Cary Street Partners Financial LLC decreased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 60.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,781 shares of the retailer's stock after selling 18,289 shares during the period. Cary Street Partners Financial LLC's holdings in Target were worth $1,152,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. WFA of San Diego LLC bought a new stake in shares of Target during the 2nd quarter valued at about $25,000. Global Wealth Strategies & Associates boosted its stake in shares of Target by 192.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer's stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Target during the 4th quarter valued at about $30,000. Key Financial Inc boosted its stake in shares of Target by 77.4% during the 3rd quarter. Key Financial Inc now owns 346 shares of the retailer's stock valued at $31,000 after purchasing an additional 151 shares in the last quarter. Finally, True Wealth Design LLC boosted its stake in shares of Target by 168.9% during the 4th quarter. True Wealth Design LLC now owns 355 shares of the retailer's stock valued at $35,000 after purchasing an additional 223 shares in the last quarter. Institutional investors own 79.73% of the company's stock.

Target Price Performance

TGT opened at $128.59 on Friday. The stock has a 50-day moving average price of $123.31 and a 200-day moving average price of $110.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The firm has a market cap of $58.40 billion, a PE ratio of 16.99, a P/E/G ratio of 2.51 and a beta of 1.01. Target Corporation has a 1 year low of $83.44 and a 1 year high of $133.10.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $24.66 billion. During the same quarter in the previous year, the firm earned $1.30 EPS. Target's quarterly 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. Sell-side analysts predict that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 13th will be issued a $1.14 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $4.56 annualized dividend and a yield of 3.5%. Target's payout ratio is 60.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TGT. Guggenheim reaffirmed a "buy" rating and set a $140.00 target price on shares of Target in a research note on Wednesday, May 20th. The Goldman Sachs Group lifted their target price on shares of Target from $112.00 to $127.00 and gave the company a "neutral" rating in a research note on Thursday, May 21st. Evercore set a $130.00 price objective on shares of Target in a research note on Monday, May 18th. Truist Financial boosted their price objective on shares of Target from $123.00 to $130.00 and gave the stock a "hold" rating in a research note on Wednesday, May 20th. Finally, DA Davidson boosted their price objective on shares of Target from $140.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $125.93.

Insider Transactions at Target

In other Target news, CAO Matthew A. Liegel sold 2,053 shares of Target stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total value of $240,591.07. Following the completion of the transaction, the chief accounting officer directly owned 12,143 shares of the company's stock, valued at approximately $1,423,038.17. The trade was a 14.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company's stock.

Target Company 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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