Target Corporation $TGT Shares Acquired by Ally Financial Inc.

Key Points

• Ally Financial Inc. increased its stake in Target Corporation by 72.7%, holding 38,000 shares valued at approximately $3.97 million as of the latest SEC filing.
• Target recently announced a quarterly dividend of $1.12 per share, which will be paid out on September 1st, reflecting a 4.5% yield.
• Target's stock has a market capitalization of $44.98 billion and reported earnings of $2.05 per share for the last quarter, exceeding analyst expectations.

Ally Financial Inc. grew its holdings in Target Corporation (NYSE:TGT - Free Report) by 72.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,000 shares of the retailer's stock after acquiring an additional 16,000 shares during the quarter. Ally Financial Inc.'s holdings in Target were worth $3,966,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TGT. Brighton Jones LLC raised its stake in shares of Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after purchasing an additional 3,059 shares during the last quarter. MGO One Seven LLC raised its position in Target by 19.3% during the fourth quarter. MGO One Seven LLC now owns 10,293 shares of the retailer's stock valued at $1,392,000 after acquiring an additional 1,664 shares in the last quarter. Coldstream Capital Management Inc. raised its position in Target by 311.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 41,340 shares of the retailer's stock valued at $5,588,000 after acquiring an additional 31,298 shares in the last quarter. Aquatic Capital Management LLC raised its position in Target by 562.1% during the fourth quarter. Aquatic Capital Management LLC now owns 110,566 shares of the retailer's stock valued at $14,946,000 after acquiring an additional 93,866 shares in the last quarter. Finally, Prosperity Consulting Group LLC raised its position in Target by 14.7% during the fourth quarter. Prosperity Consulting Group LLC now owns 2,980 shares of the retailer's stock valued at $403,000 after acquiring an additional 381 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the transaction, the insider owned 246,453 shares of the company's stock, valued at $23,703,849.54. This represents a 15.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company's stock.

Target Stock Up 2.0%

Target stock opened at $98.9880 on Friday. The stock has a market capitalization of $44.98 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 2.86 and a beta of 1.22. Target Corporation has a 12 month low of $87.35 and a 12 month high of $161.84. The business has a 50 day simple moving average of $102.06 and a 200-day simple moving average of $103.64. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.25.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. The firm had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The business's revenue 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. On average, analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be paid 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 yield of 4.5%. Target's payout ratio is 53.15%.

Wall Street Analyst Weigh In

TGT has been the subject of several recent research reports. BMO Capital Markets reduced their price target on Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research report on Thursday, May 22nd. Truist Financial lifted their price target on Target from $90.00 to $107.00 and gave the company a "hold" rating in a research report on Wednesday, August 13th. Barclays reiterated an "underweight" rating and set a $91.00 price target on shares of Target in a research report on Monday, July 21st. Mizuho reduced 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. Finally, Piper Sandler restated a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $113.74.

Target Company 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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