Prudential PLC Sells 13,278 Shares of Target Corporation $TGT

Key Points

• Prudential PLC reduced its stake in Target Corporation by 38.6%, owning 21,087 shares worth approximately $2.2 million after selling 13,278 shares in the first quarter.
• Target's recent earnings report showed EPS of $1.30, falling short of expectations and representing a decline in revenue of 2.8% year-over-year.
• The company declared a $1.12 quarterly dividend, translating to an annualized yield of 4.3%, with a payout ratio of 50.11%.

Prudential PLC cut its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 38.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,087 shares of the retailer's stock after selling 13,278 shares during the quarter. Prudential PLC's holdings in Target were worth $2,201,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors boosted its stake in Target by 6.3% in the fourth quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after acquiring an additional 1,306,552 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Target by 407.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Target by 16.3% during the fourth quarter. Northern Trust Corp now owns 5,376,640 shares of the retailer's stock worth $726,814,000 after purchasing an additional 754,883 shares during the period. Goldman Sachs Group Inc. grew its position in Target by 35.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock valued at $560,420,000 after buying an additional 1,406,653 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Target by 21.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,823,264 shares of the retailer's stock valued at $652,014,000 after buying an additional 840,484 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

Shares of NYSE:TGT traded up $0.4550 during trading hours on Tuesday, hitting $105.4050. The stock had a trading volume of 2,738,371 shares, compared to its average volume of 6,875,327. The stock's fifty day simple moving average is $101.92 and its 200 day simple moving average is $104.39. The firm has a market capitalization of $47.89 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The company had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the prior year, the business earned $2.03 EPS. Target's revenue was down 2.8% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Sell-side analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.3%. Target's payout ratio is 50.11%.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider owned 246,453 shares in the company, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TGT shares. Barclays reiterated an "underweight" rating and set a $91.00 target price on shares of Target in a research report on Monday, July 21st. BMO Capital Markets decreased their price target on shares of Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research note on Thursday, May 22nd. Robert W. Baird set a $100.00 price objective on shares of Target in a research report on Thursday, May 22nd. Royal Bank Of Canada lowered their price target on Target from $112.00 to $103.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. Finally, Mizuho lowered their price target on Target from $92.00 to $88.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Ten analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Target has an average rating of "Hold" and a consensus target price of $115.42.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.