Public Employees Retirement System of Ohio Decreases Holdings in Target Corporation $TGT

Key Points

• Ohio’s public employee retirement system reduced its Target stake by 4.8% in the second quarter, selling 10,296 shares and retaining 204,888 shares valued at approximately $26.8 million. Institutional investors collectively own 79.73% of Target.
• Target reported quarterly earnings of $4.11 per share, well above the $2.35 consensus estimate, while revenue rose 5.3% year over year to $26.54 billion. The company also increased its quarterly dividend to $1.16, or $4.64 annually.
• Analyst sentiment remains mixed: Target has a consensus “Hold” rating and an average price target of $159.52, despite recent target-price increases and UBS assigning a $185 price objective with a “Buy” rating.

Public Employees Retirement System of Ohio lowered its holdings in Target Corporation (NYSE:TGT - Free Report) by 4.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 204,888 shares of the retailer's stock after selling 10,296 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Target were worth $26,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TGT. Winning Points Advisors LLC purchased a new stake in shares of Target in the 4th quarter valued at approximately $611,000. Franklin Resources Inc. lifted 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 valued at $605,507,000 after acquiring an additional 142,937 shares during the last quarter. Bogart Wealth LLC lifted its holdings 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 acquiring an additional 32,746 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich purchased a new position in Target in the first quarter worth approximately $6,686,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Target during the fourth quarter worth $27,470,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Insider Activity

In other news, CAO Matthew A. Liegel sold 926 shares of Target stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $163.51, for a total value of $151,410.26. Following the completion of the transaction, the chief accounting officer owned 12,266 shares in the company, valued at approximately $2,005,613.66. This trade represents a 7.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TGT shares. BMO Capital Markets raised their price objective on Target from $150.00 to $160.00 and gave the stock a "market perform" rating in a research report on Thursday, August 20th. UBS Group boosted their target price on Target from $166.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. JPMorgan Chase & Co. raised their price target on Target from $129.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Citigroup lifted their price objective on Target from $148.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, August 20th. Finally, Robert W. Baird set a $170.00 target price on Target in a research note on Thursday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Target has a consensus rating of "Hold" and an average target price of $159.52.

Target Stock Performance

Shares of TGT stock opened at $163.14 on Friday. The firm has a 50 day moving average of $144.21 and a two-hundred day moving average of $129.86. The stock has a market capitalization of $74.10 billion, a PE ratio of 16.94, a P/E/G ratio of 3.09 and a beta of 0.97. 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.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.35 by $1.76. The business had revenue of $26.54 billion for the quarter, compared to analyst estimates of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%.The company's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, research analysts predict that Target Corporation will post 8.84 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. Shareholders of record on Wednesday, August 12th will be given a $1.16 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a yield of 2.8%. This is an increase from Target's previous quarterly dividend of $1.14. Target's dividend payout ratio is 48.18%.

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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