Target Corporation $TGT Shares Sold by 1834 Investment Advisors Co.

Key Points

• 1834 Investment Advisors cut its Target stake by 23.9% in the third quarter, selling 9,833 shares and retaining 31,229 shares valued at approximately $4.9 million. Institutional investors collectively own 79.73% of Target.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $159.33, although several firms raised their targets as high as $185.
• Target reported stronger-than-expected quarterly results, posting EPS of $4.11 versus the $2.35 consensus estimate and revenue of $26.54 billion. The company also declared a quarterly dividend of $1.16 per share, representing a 3.0% annualized yield.

1834 Investment Advisors Co. reduced its position in Target Corporation (NYSE:TGT - Free Report) by 23.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,229 shares of the retailer's stock after selling 9,833 shares during the quarter. 1834 Investment Advisors Co.'s holdings in Target were worth $4,893,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Target in the 2nd quarter worth $5,054,604,000. Bank of New York Mellon Corp purchased a new position in shares of Target in the second quarter worth about $831,466,000. Dimensional Fund Advisors LP lifted its stake in shares of Target by 8.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,413,840 shares of the retailer's stock valued at $656,091,000 after acquiring an additional 411,608 shares during the last quarter. Bank of America Corp DE lifted its position in Target by 1.8% in the second quarter. Bank of America Corp DE now owns 4,575,880 shares of the retailer's stock valued at $597,656,000 after purchasing an additional 82,268 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Target by 12.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,514,522 shares of the retailer's stock valued at $589,642,000 after buying an additional 514,155 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TGT has been the subject of a number of analyst reports. Wolfe Research set a $169.00 target price on shares of Target in a report on Monday, August 3rd. Robert W. Baird set a $170.00 price target on Target in a report on Thursday, August 20th. Weiss Ratings raised Target from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Royal Bank Of Canada upped their price target on Target from $166.00 to $178.00 and gave the company an "outperform" rating in a research report on Thursday, August 20th. Finally, DA Davidson increased their price objective on Target from $170.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $159.33.

Insider Buying and Selling

In other Target news, insider Melissa Kremer sold 15,500 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the completion of the transaction, the insider owned 56,981 shares of the company's stock, valued at approximately $9,684,490.76. This trade represents a 21.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew Liegel sold 926 shares of Target stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the transaction, the chief accounting officer owned 12,266 shares of the company's stock, valued at $2,005,613.66. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by company insiders.

Target Trading Down 1.4%

NYSE TGT opened at $154.42 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. Target Corporation has a twelve month low of $83.44 and a twelve month high of $170.75. The firm has a market capitalization of $70.15 billion, a PE ratio of 16.04, a P/E/G ratio of 2.86 and a beta of 0.98. The stock's 50 day moving average is $157.77 and its 200 day moving average is $139.90.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $1.76. The business had revenue of $26.54 billion during the quarter, compared to the consensus estimate of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Research analysts forecast that Target Corporation will post 9.02 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 11th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, November 10th. Target's dividend payout ratio is 48.18%.

Target Company Profile

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping platforms under the Target name. The company sells a broad assortment of products, including apparel and accessories, beauty and household essentials, electronics, toys, groceries, home furnishings, and seasonal merchandise.

Target also offers services designed to support omnichannel shopping, including order pickup, Drive Up, same-day delivery, and shipping through its digital channels.

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