Fayez Sarofim & Co Sells 10,538 Shares of Target Corporation $TGT

Key Points

• Fayez Sarofim & Co. reduced its Target stake by 7.5% in the second quarter, selling 10,538 shares and retaining 129,237 shares valued at approximately $16.9 million. Institutional investors and hedge funds collectively own 79.73% of Target.
• Target reported a strong quarter, with earnings of $4.11 per share versus the $2.35 consensus estimate and revenue of $26.54 billion, up 5.3% year over year. The company also raised its quarterly dividend from $1.14 to $1.16 per share.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $159.52, while recent insider sales totaled 26,426 shares worth about $4.04 million.

Fayez Sarofim & Co trimmed its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,237 shares of the retailer's stock after selling 10,538 shares during the quarter. Fayez Sarofim & Co's holdings in Target were worth $16,880,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Winning Points Advisors LLC bought a new stake in shares of Target during the 4th quarter valued at about $611,000. Franklin Resources Inc. increased its holdings in Target by 2.4% in the fourth quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer's stock worth $605,507,000 after purchasing an additional 142,937 shares in the last quarter. Bogart Wealth LLC lifted its stake in Target by 41.8% in the first quarter. Bogart Wealth LLC now owns 111,001 shares of the retailer's stock valued at $13,453,000 after buying an additional 32,746 shares during the period. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Target in the first quarter valued at approximately $6,686,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Target during the 4th quarter worth approximately $27,470,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TGT has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Target from $129.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Target in a research note on Friday, July 31st. Zacks Research cut shares of Target from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. UBS Group lifted their price target on shares of Target from $166.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Target in a report on Thursday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Target has an average rating of "Hold" and a consensus target price of $159.52.

Insider Activity

In other news, CAO Matthew A. Liegel sold 926 shares of Target stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the completion of the transaction, the chief accounting officer directly owned 12,266 shares in the company, valued at $2,005,613.66. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Melissa K. Kremer sold 15,500 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the sale, the insider directly owned 56,981 shares of the company's stock, valued at approximately $9,684,490.76. The trade was a 21.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,426 shares of company stock worth $4,044,690 over the last three months. 0.13% of the stock is currently owned by insiders.

Target Trading Up 0.2%

NYSE TGT opened at $163.85 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. Target Corporation has a 52 week low of $83.44 and a 52 week high of $170.75. The business has a 50 day moving average price of $142.87 and a 200-day moving average price of $129.27. The company has a market cap of $74.42 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 3.03 and a beta of 0.97.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%.The company had revenue of $26.54 billion for the quarter, compared to analysts' expectations of $26.13 billion. During the same period last year, the business earned $2.05 EPS. Target's quarterly 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 expect that Target Corporation will post 8.88 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This is a positive change from Target's previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 2.8%. Target's dividend payout ratio is currently 48.18%.

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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