North Dakota State Investment Board Sells 11,511 Shares of Target Corporation $TGT

Key Points

• North Dakota State Investment Board cut its Target stake by 45.3%, selling 11,511 shares and retaining 13,902 shares valued at approximately $2.18 million. Institutional investors and hedge funds collectively own 79.73% of Target.
• Target reported quarterly earnings of $4.11 per share, exceeding the $2.35 consensus estimate, while revenue rose 5.3% year over year to $26.54 billion.
• Target declared a quarterly dividend of $1.16 per share, equivalent to a 3.1% yield, while analysts maintain an overall “Hold” rating with an average price target of $159.33.

North Dakota State Investment Board lowered its position in Target Corporation (NYSE:TGT - Free Report) by 45.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,902 shares of the retailer's stock after selling 11,511 shares during the period. North Dakota State Investment Board's holdings in Target were worth $2,178,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TGT. Pension & Wealth Management Advisors Inc. acquired a new position in Target during the 3rd quarter valued at approximately $25,000. Kimelman & Baird LLC acquired a new stake in shares of Target during the second quarter worth $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Target during the second quarter worth $26,000. Archer Investment Corp acquired a new stake in shares of Target during the second quarter worth $30,000. Finally, Washington Trust Advisors Inc. grew its holdings in shares of Target by 28.5% during the third quarter. Washington Trust Advisors Inc. now owns 293 shares of the retailer's stock valued at $46,000 after buying an additional 65 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Price Performance

NYSE:TGT opened at $151.80 on Friday. Target Corporation has a 12 month low of $83.44 and a 12 month high of $170.75. The stock has a 50 day moving average of $157.21 and a two-hundred day moving average of $133.57. 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 firm has a market cap of $68.96 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 2.76 and a beta of 0.98.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, topping the consensus estimate of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The firm had revenue of $26.54 billion for the quarter, compared to the consensus estimate of $26.13 billion. During the same period last year, the firm posted $2.05 earnings per share. The company's revenue for the quarter was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, analysts expect that Target Corporation will post 8.89 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Wednesday, November 11th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, November 10th. Target's dividend payout ratio (DPR) is currently 48.18%.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of research reports. Oppenheimer lifted their target price on Target from $140.00 to $170.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Robert W. Baird set a $170.00 price target on shares of Target in a report on Thursday, August 20th. Morgan Stanley reiterated an "overweight" rating on shares of Target in a report on Thursday, August 20th. Roth Capital reissued a "neutral" rating and set a $142.00 price target on shares of Target in a research report on Thursday, August 20th. Finally, Wolfe Research set a $169.00 price objective on shares of Target in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $159.33.

Insiders Place Their Bets

In other news, CAO Matthew A. Liegel sold 926 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $163.51, for a total value of $151,410.26. Following the sale, the chief accounting officer directly owned 12,266 shares in the company, valued at approximately $2,005,613.66. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $2,634,380.00. Following the transaction, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.13% of the company's stock.

Target Profile

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping platforms under the Target name. The company sells a broad assortment of products, including apparel and accessories, beauty and household essentials, electronics, toys, groceries, home furnishings, and seasonal merchandise.

Target also offers services designed to support omnichannel shopping, including order pickup, Drive Up, same-day delivery, and shipping through its digital channels.

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