Target Corporation $TGT Shares Sold by Columbia Asset Management

Key Points

• Columbia Asset Management reduced its Target stake by 21.4% in the third quarter, selling 8,512 shares and retaining 31,175 shares valued at approximately $4.9 million. Institutional investors and hedge funds collectively own 79.73% of Target.
• Target reported quarterly earnings of $4.11 per share, well above the $2.35 analyst consensus, while revenue rose 5.3% year over year to $26.54 billion. The company also issued a quarterly dividend of $1.16 per share, representing a 3.0% yield.
• Target insiders sold shares during August, including a combined 16,426 shares by two executives. Wall Street’s consensus rating remains “Hold,” with an average price target of $159.33.

Columbia Asset Management lowered its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 21.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,175 shares of the retailer's stock after selling 8,512 shares during the quarter. Target comprises about 0.8% of Columbia Asset Management's holdings, making the stock its 29th largest position. Columbia Asset Management's holdings in Target were worth $4,885,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TGT. Sterling Investment Counsel LLC acquired a new position in shares of Target in the third quarter worth $209,000. SteelPeak Wealth LLC lifted its position in Target by 3.0% during the third quarter. SteelPeak Wealth LLC now owns 3,431 shares of the retailer's stock valued at $538,000 after buying an additional 100 shares in the last quarter. CRA Financial Services LLC acquired a new position in shares of Target during the third quarter worth about $179,000. Robertson Stephens Wealth Management LLC lifted its position in Target by 1.1% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 34,310 shares of the retailer's stock worth $5,376,000 after acquiring an additional 381 shares in the last quarter. Finally, Fiscal Wisdom Wealth Management LLC purchased a new position in Target in the 3rd quarter valued at about $219,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Matthew Liegel sold 926 shares of Target stock in a transaction dated Friday, August 21st. The stock was 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 in the company, valued at $2,005,613.66. The trade was a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Melissa Kremer sold 15,500 shares of Target 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 directly owned 56,981 shares in the company, valued at approximately $9,684,490.76. The trade was a 21.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.13% of the company's stock.

Target Stock Down 0.7%

TGT opened at $153.15 on Tuesday. The firm has a market cap of $69.58 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.82 and a beta of 0.98. The firm's 50-day simple moving average is $157.79 and its 200-day simple moving average is $140.28. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99. Target Corporation has a twelve month low of $83.44 and a twelve month high of $170.75.

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

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 11th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, November 10th. Target's dividend payout ratio (DPR) is presently 48.18%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TGT shares. Royal Bank Of Canada raised their price target on shares of Target from $166.00 to $178.00 and gave the stock an "outperform" rating in a research report on Thursday, August 20th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Target in a report on Friday, September 25th. Morgan Stanley reissued an "overweight" rating on shares of Target in a report on Thursday, August 20th. Wolfe Research set a $169.00 target price on shares of Target in a research note on Monday, August 3rd. Finally, Evercore set a $165.00 price target on Target in a research report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Target has a consensus rating of "Hold" and an average price target of $159.33.

About Target

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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