Target Corporation $TGT Shares Sold by Bridges Investment Management Inc.

Key Points

• Bridges Investment Management cut its Target stake by 32.1% in the fourth quarter, selling 13,080 shares and ending with 27,635 shares valued at about $2.7 million.
• Target’s latest quarterly results beat expectations, with EPS of $1.71 versus $1.47 expected and revenue of $25.44 billion, up 6.7% from a year earlier.
• Wall Street sentiment remains mixed: analysts’ consensus rating is Hold, though several firms recently lifted price targets, and Target also paid a quarterly dividend of $1.14 per share for a 3.6% annualized yield.

Bridges Investment Management Inc. decreased its holdings in Target Corporation (NYSE:TGT - Free Report) by 32.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,635 shares of the retailer's stock after selling 13,080 shares during the quarter. Bridges Investment Management Inc.'s holdings in Target were worth $2,701,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Calton & Associates Inc. increased its stake in shares of Target by 96.9% in the fourth quarter. Calton & Associates Inc. now owns 5,295 shares of the retailer's stock worth $518,000 after acquiring an additional 2,606 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Target by 17.7% in the fourth quarter. Natixis Advisors LLC now owns 119,623 shares of the retailer's stock worth $11,693,000 after purchasing an additional 17,972 shares in the last quarter. Heritage Trust Co boosted its holdings in Target by 8.4% in the fourth quarter. Heritage Trust Co now owns 28,157 shares of the retailer's stock worth $2,752,000 after purchasing an additional 2,188 shares in the last quarter. Old Peak Finance LLC bought a new stake in Target in the fourth quarter worth $370,000. Finally, Collar Capital Management LLC bought a new stake in Target in the fourth quarter worth $3,503,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

TGT has been the subject of a number of recent research reports. Wells Fargo & Company upped their price objective on shares of Target from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, May 12th. Roth Mkm reiterated a "neutral" rating and issued a $114.00 price objective on shares of Target in a report on Friday, May 22nd. UBS Group upped their price target on shares of Target from $130.00 to $144.00 and gave the company a "buy" rating in a report on Wednesday, March 4th. Royal Bank Of Canada upped their price target on shares of Target from $132.00 to $153.00 and gave the company an "outperform" rating in a report on Thursday, May 21st. Finally, DA Davidson upped their price target on shares of Target from $140.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, May 21st. Eleven research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $125.93.

Insiders Place Their Bets

In other news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the transaction, the insider owned 45,930 shares of the company's stock, valued at $5,782,127.70. This represents a 17.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew A. Liegel sold 2,053 shares of Target stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $117.19, for a total transaction of $240,591.07. Following the transaction, the chief accounting officer directly owned 12,143 shares in the company, valued at approximately $1,423,038.17. This represents a 14.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.13% of the company's stock.

Target Stock Performance

NYSE:TGT opened at $124.93 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $56.74 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.41 and a beta of 1.00. Target Corporation has a 12-month low of $83.44 and a 12-month high of $133.10. The firm has a 50-day moving average price of $124.14 and a 200 day moving average price of $111.70.

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. Target had a net margin of 3.24% and a return on equity of 22.92%. The firm had revenue of $25.44 billion for the quarter, compared to analysts' expectations of $24.66 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The company's quarterly revenue was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Research analysts anticipate that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 13th were given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, May 13th. Target's dividend payout ratio (DPR) is presently 60.24%.

About Target

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.