Target Corporation $TGT Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in Target Corporation (NYSE:TGT - Free Report) by 784.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 259,285 shares of the retailer's stock after purchasing an additional 229,966 shares during the period. Fifth Third Bancorp owned approximately 0.06% of Target worth $31,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. WFA of San Diego LLC purchased a new position in Target during the second quarter worth about $25,000. Jessup Wealth Management Inc purchased a new stake in shares of Target in the 4th quarter valued at approximately $25,000. Altshuler Shaham Ltd acquired a new position in shares of Target in the 4th quarter worth approximately $26,000. Capital Advisors Ltd. LLC lifted its holdings in shares of Target by 245.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer's stock worth $33,000 after acquiring an additional 194 shares during the last quarter. Finally, Global Wealth Strategies & Associates boosted its position in shares of Target by 192.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer's stock worth $29,000 after purchasing an additional 192 shares during the period. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Stock Down 0.2%

Target stock opened at $134.94 on Tuesday. Target Corporation has a 1-year low of $83.44 and a 1-year high of $142.82. 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 stock has a market cap of $61.29 billion, a PE ratio of 17.83, a P/E/G ratio of 2.64 and a beta of 0.98. The stock's fifty day moving average is $128.51 and its two-hundred day moving average is $119.44.

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, topping the consensus estimate of $1.47 by $0.24. The business had revenue of $25.44 billion during 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 company's revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, sell-side analysts expect that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Increases Dividend

The business 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 of this dividend 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 3.4%. Target's dividend payout ratio is presently 60.24%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TGT. Argus set a $150.00 price objective on Target in a research note on Friday, May 22nd. Wolfe Research raised Target from a "peer perform" rating to an "outperform" rating and set a $162.00 target price on the stock in a research note on Tuesday, June 23rd. Sanford C. Bernstein restated a "market perform" rating on shares of Target in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $123.00 target price on shares of Target in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Target from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Twelve research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $130.64.

Insider Activity at Target

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the business's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $125.89, for a total value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by company 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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