Target Corporation $TGT Shares Acquired by Allstate Corp

Key Points

• Allstate Corp increased its stake in Target Corporation by 33.7% in Q1, now holding 18,180 shares valued at approximately $1.9 million.
• Insider Brian C. Cornell sold 45,000 shares at $96.18 each, reflecting a 15.44% decrease in his ownership.
• Target's latest quarterly earnings report showed an EPS of $2.05, exceeding analyst expectations, despite a year-over-year revenue decline of 0.9%.

Allstate Corp grew its stake in Target Corporation (NYSE:TGT - Free Report) by 33.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,180 shares of the retailer's stock after purchasing an additional 4,582 shares during the period. Allstate Corp's holdings in Target were worth $1,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in shares of Target during the 4th quarter worth $29,000. Heck Capital Advisors LLC acquired a new stake in Target during the fourth quarter worth about $40,000. Atwood & Palmer Inc. raised its stake in Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after purchasing an additional 352 shares during the period. Abound Financial LLC acquired a new position in Target in the 1st quarter valued at about $43,000. Finally, Bellwether Advisors LLC purchased a new stake in shares of Target in the 4th quarter valued at approximately $47,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Insider Activity

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

Target Price Performance

Shares of NYSE TGT opened at $98.9880 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.25. The company has a market cap of $44.98 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 2.80 and a beta of 1.22. The stock's 50-day moving average is $102.06 and its two-hundred day moving average is $103.85. Target Corporation has a 1-year low of $87.35 and a 1-year high of $161.84.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. The business had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The business's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio (DPR) is presently 53.15%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Target from $104.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday. Truist Financial raised their price objective on Target from $90.00 to $107.00 and gave the stock a "hold" rating in a research report on Wednesday, August 13th. Morgan Stanley cut their target price on Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Sanford C. Bernstein cut Target from a "market perform" rating to an "underperform" rating and lowered their target price for the company from $97.00 to $82.00 in a report on Monday, May 12th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $110.00 target price on shares of Target in a research report on Wednesday. Ten research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Target presently has a consensus rating of "Hold" and a consensus target price of $113.74.

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.

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