Midwest Trust Co Raises Holdings in Target Corporation $TGT

Key Points

• Midwest Trust Co increased its Target stake by 24.8% in the first quarter, adding 25,625 shares and bringing its total holding to 129,036 shares worth about $15.6 million.
• Target’s stock has broad institutional backing, with roughly 79.73% of shares owned by hedge funds and other institutional investors, while analysts currently rate the stock a consensus "Hold" with an average target price of $130.64.
• The retailer reported better-than-expected quarterly results and raised its dividend to $1.16 per share, while an insider sale by Cara A. Sylvester disclosed a reduction in her holdings.

Midwest Trust Co increased its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 24.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,036 shares of the retailer's stock after acquiring an additional 25,625 shares during the period. Midwest Trust Co's holdings in Target were worth $15,639,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Target by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer's stock worth $5,690,262,000 after purchasing an additional 286,499 shares in the last quarter. State Street Corp grew its stake in shares of Target by 0.3% during the 4th quarter. State Street Corp now owns 37,772,533 shares of the retailer's stock worth $3,692,265,000 after purchasing an additional 124,468 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Target by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer's stock worth $1,668,194,000 after purchasing an additional 561,898 shares during the period. Franklin Resources Inc. increased its holdings in shares of Target by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer's stock valued at $605,507,000 after purchasing an additional 142,937 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Target during the 4th quarter valued at approximately $587,903,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TGT shares. KeyCorp reissued a "sector weight" rating on shares of Target in a report on Thursday, May 21st. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Target in a report on Monday, June 15th. Truist Financial upped their price objective on shares of Target from $123.00 to $130.00 and gave the stock a "hold" rating in a research report on Wednesday, May 20th. Argus set a $150.00 target price on shares of Target in a research note on Friday, May 22nd. Finally, Freedom Capital cut Target from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 20th. Twelve investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $130.64.

Insiders Place Their Bets

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total value 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. This trade represents a 17.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company's stock.

Target Price Performance

Shares of NYSE:TGT traded up $2.67 during midday trading on Friday, reaching $134.94. 3,403,029 shares of the company's stock traded hands, compared to its average volume of 4,556,986. The company has a market cap of $61.29 billion, a P/E ratio of 17.83, a PEG ratio of 2.64 and a beta of 0.98. The company has a fifty day simple moving average of $128.40 and a two-hundred day simple moving average of $118.99. 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 1 year low of $83.44 and a 1 year high of $142.82.

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

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be given a dividend of $1.16 per share. This is a boost from Target's previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 3.4%. Target's payout ratio is currently 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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