Summitry LLC Cuts Stock Position in Target Corporation $TGT

Key Points

• Summitry LLC sharply reduced its Target stake by 96.6% in the fourth quarter, selling 59,019 shares and leaving it with 2,087 shares worth about $204,000.
• Institutional ownership remains high, with hedge funds and other institutions holding 79.73% of Target’s stock, while several other funds recently increased their positions.
• Target topped quarterly expectations with EPS of $1.71 on revenue of $25.44 billion, and analysts currently have a consensus rating of “Hold” with an average price target of $125.93.

Summitry LLC lowered its stake in Target Corporation (NYSE:TGT - Free Report) by 96.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,087 shares of the retailer's stock after selling 59,019 shares during the period. Summitry LLC's holdings in Target were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TGT. Brighton Jones LLC grew its stake in shares of Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after buying an additional 3,059 shares during the last quarter. Woodline Partners LP grew its stake in shares of Target by 39.9% in the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer's stock worth $4,040,000 after buying an additional 11,047 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Target by 22.8% in the 2nd quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer's stock worth $6,872,000 after buying an additional 12,948 shares during the last quarter. Sei Investments Co. grew its stake in shares of Target by 8.0% in the 2nd quarter. Sei Investments Co. now owns 190,860 shares of the retailer's stock worth $18,832,000 after buying an additional 14,195 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of Target by 11.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer's stock worth $26,910,000 after buying an additional 27,063 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TGT shares. Morgan Stanley upped their price target on Target from $125.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 4th. UBS Group upped their price target on Target from $130.00 to $144.00 and gave the stock a "buy" rating in a research note on Wednesday, March 4th. Sanford C. Bernstein restated a "market perform" rating and issued a $124.00 price target on shares of Target in a research note on Thursday, May 21st. The Goldman Sachs Group increased their target price on Target from $112.00 to $127.00 and gave the company a "neutral" rating in a research note on Thursday, May 21st. Finally, JPMorgan Chase & Co. lifted their target price on Target from $120.00 to $129.00 and gave the stock a "neutral" rating in a report on Friday, May 15th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $125.93.

Target Stock Performance

Shares of TGT stock opened at $125.16 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average price of $122.85 and a 200-day moving average price of $110.22. Target Corporation has a 52 week low of $83.44 and a 52 week high of $133.10. The firm has a market capitalization of $56.85 billion, a PE ratio of 16.53, a P/E/G ratio of 2.45 and a beta of 1.01.

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

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Wednesday, May 13th will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Wednesday, May 13th. Target's dividend payout ratio is presently 60.24%.

Insider Buying and Selling at Target

In other news, CAO Matthew A. Liegel sold 2,053 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $117.19, for a total transaction of $240,591.07. Following the transaction, the chief accounting officer directly owned 12,143 shares of the company's stock, valued at $1,423,038.17. This represents a 14.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by insiders.

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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