Target Corporation $TGT Shares Sold by Gradient Investments LLC

Key Points

• Gradient Investments reduced its Target stake by 19.9% in the third quarter, selling 75,839 shares and retaining 305,837 shares worth approximately $47.9 million. Institutional investors collectively own 79.73% of Target.
• Target shares rose 3.3% to $155.85, while the retailer reported quarterly EPS of $4.11—well above the $2.35 analyst consensus—and revenue of $26.54 billion, up 5.3% year over year.
• Target declared a quarterly dividend of $1.16, equivalent to $4.64 annually and a 3.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $159.52.

Gradient Investments LLC trimmed its holdings in Target Corporation (NYSE:TGT - Free Report) by 19.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 305,837 shares of the retailer's stock after selling 75,839 shares during the period. Gradient Investments LLC owned 0.07% of Target worth $47,922,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TGT. BlackRock Inc. acquired a new stake in shares of Target in the 2nd quarter worth $5,054,604,000. State Street Corp grew its holdings in shares of Target by 0.3% in the 4th quarter. State Street Corp now owns 37,772,533 shares of the retailer's stock worth $3,692,265,000 after acquiring an additional 124,468 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Target during the 2nd quarter worth $831,466,000. Dimensional Fund Advisors LP grew its position in shares of Target by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,413,840 shares of the retailer's stock valued at $656,091,000 after purchasing an additional 411,608 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Target by 1.8% during the 2nd quarter. Bank of America Corp DE now owns 4,575,880 shares of the retailer's stock worth $597,656,000 after purchasing an additional 82,268 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Stock Up 3.3%

TGT stock traded up $4.93 during trading on Thursday, reaching $155.85. The stock had a trading volume of 1,648,385 shares, compared to its average volume of 5,163,394. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $156.78 and a 200 day moving average price of $138.18. The company has a market capitalization of $70.80 billion, a P/E ratio of 16.20, a PEG ratio of 2.86 and a beta of 0.98. Target Corporation has a 1-year low of $83.44 and a 1-year 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 (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $1.76. The business had revenue of $26.54 billion for the quarter, compared to analyst estimates of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%.The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, equities analysts anticipate that Target Corporation will post 8.89 earnings per share for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Wednesday, November 11th will be given a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $4.64 annualized dividend and a dividend yield of 3.0%. Target's payout ratio is presently 48.18%.

Insider Transactions at Target

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on TGT. DA Davidson boosted their price objective on shares of Target from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. Sanford C. Bernstein reissued a "market perform" rating and issued a $154.00 target price on shares of Target in a research note on Thursday, August 20th. Roth Capital restated a "neutral" rating and set a $142.00 target price on shares of Target in a report on Thursday, August 20th. Weiss Ratings raised shares of Target from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 31st. Finally, Evercore set a $170.00 price objective on Target in a research note on Thursday, August 20th. Eleven 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, the company currently has an average rating of "Hold" and a consensus target price of $159.52.

About Target

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

Target offers private-label brands alongside national brands and provides services such as Order Pickup, Drive Up and same-day delivery through Shipt.

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