Pacer Advisors Inc. Has $186.28 Million Holdings in Target Corporation $TGT

Key Points

• Pacer Advisors Inc. cut its Target stake by 20.7% in the fourth quarter, selling 497,192 shares and leaving it with 1,905,647 shares valued at about $186.3 million.
• Target recently reported better-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 also raised its quarterly dividend to $1.16 per share from $1.14, while analysts currently have a consensus rating of Hold with an average price target of $126.11.

Pacer Advisors Inc. lessened its holdings in Target Corporation (NYSE:TGT - Free Report) by 20.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,905,647 shares of the retailer's stock after selling 497,192 shares during the quarter. Pacer Advisors Inc. owned 0.42% of Target worth $186,277,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Target by 0.5% during 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 raised its holdings in 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 last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Target by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer's stock worth $1,668,194,000 after buying an additional 561,898 shares during the last quarter. Franklin Resources Inc. raised its position 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 acquiring an additional 142,937 shares during the last quarter. Finally, Norges Bank bought a new stake in Target in the fourth quarter valued at about $587,903,000. 79.73% of the stock is currently owned by institutional investors.

Insider Activity

In other Target 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 $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company's stock.

Target Stock Performance

NYSE:TGT opened at $130.82 on Friday. The stock has a market cap of $59.42 billion, a P/E ratio of 17.28, a PEG ratio of 2.50 and a beta of 1.00. The stock has a 50 day simple moving average of $126.27 and a 200 day simple moving average of $114.88. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. Target Corporation has a 1-year low of $83.44 and a 1-year high of $137.87.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, beating 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 business had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same period in the previous year, the company posted $1.30 EPS. The firm's quarterly revenue was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Research analysts anticipate that Target Corporation will post 8.35 earnings per share for the current 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 an increase from Target's previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 12th. Target's dividend payout ratio (DPR) is currently 60.24%.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of recent analyst reports. Sanford C. Bernstein reissued a "market perform" rating on shares of Target in a research report on Monday. Oppenheimer raised their price target on shares of Target from $130.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 4th. Morgan Stanley lifted their target price on Target from $125.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, March 4th. Wells Fargo & Company boosted their target price on shares of Target from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, May 12th. Finally, Truist Financial upped their price objective on Target from $123.00 to $130.00 and gave the company a "hold" rating in a research note on Wednesday, May 20th. Eleven analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $126.11.

About Target

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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