Target Corporation $TGT Position Lessened by Impact Partnership Wealth LLC

Key Points

• Impact Partnership Wealth LLC cut its Target stake by 80.1% in the first quarter, selling 15,521 shares and leaving it with 3,865 shares worth about $468,000.
• Target’s latest earnings beat expectations, with quarterly EPS of $1.71 versus the $1.47 consensus and revenue of $25.44 billion, up 6.7% year over year.
• The company also raised its quarterly dividend to $1.16 per share from $1.14, implying an annualized dividend of $4.64 and a yield of 3.6%.

Impact Partnership Wealth LLC lowered its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 80.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,865 shares of the retailer's stock after selling 15,521 shares during the quarter. Impact Partnership Wealth LLC's holdings in Target were worth $468,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its holdings in Target by 10.9% in the 3rd quarter. First Trust Advisors LP now owns 1,267,577 shares of the retailer's stock valued at $113,702,000 after acquiring an additional 124,371 shares during the last quarter. Winning Points Advisors LLC acquired a new position in shares of Target in the 4th quarter worth approximately $611,000. Franklin Resources Inc. raised its holdings in shares of Target by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer's stock worth $605,507,000 after purchasing an additional 142,937 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Target by 15.4% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 342,487 shares of the retailer's stock worth $30,721,000 after purchasing an additional 45,803 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in Target by 7.5% during the fourth quarter. Mather Group LLC. now owns 155,222 shares of the retailer's stock valued at $15,173,000 after purchasing an additional 10,839 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TGT. Roth Mkm restated a "neutral" rating and set a $114.00 target price on shares of Target in a report on Friday, May 22nd. Royal Bank Of Canada upped their price target on Target from $132.00 to $153.00 and gave the company an "outperform" rating in a report on Thursday, May 21st. BMO Capital Markets increased their price objective on Target from $105.00 to $130.00 and gave the company a "market perform" rating in a research report on Wednesday, March 4th. DA Davidson increased their price objective on Target from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Target in a research note on Monday, June 15th. Twelve analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $130.64.

Insider Activity

In related news, insider Cara A. Sylvester sold 10,000 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the transaction, the insider directly owned 45,930 shares of the company's stock, valued at approximately $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.

Target Stock Performance

Target stock opened at $130.26 on Thursday. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $142.82. The firm's 50 day simple moving average is $128.26 and its 200-day simple moving average is $117.53. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The company has a market cap of $59.16 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 2.55 and a beta of 0.98.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The business had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the prior year, the firm earned $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. As a group, equities research analysts predict that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be issued a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. 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 dividend yield of 3.6%. Target's dividend payout ratio is currently 60.24%.

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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