Target Corporation $TGT Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors cut its Target stake by 82.3% in the first quarter, selling 63,636 shares and retaining 13,666 shares valued at approximately $1.66 million. Institutional investors collectively own 79.73% of Target.
• Analysts maintain a largely cautious outlook, with a consensus “Hold” rating and $143.30 price target, despite several firms recently raising their targets to between $147 and $155.
• Target exceeded quarterly earnings and revenue expectations, while increasing its quarterly dividend from $1.14 to $1.16 per share, representing a $4.64 annualized payout and a 3.0% yield.

NewEdge Advisors LLC decreased its position in Target Corporation (NYSE:TGT - Free Report) by 82.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,666 shares of the retailer's stock after selling 63,636 shares during the period. NewEdge Advisors LLC's holdings in Target were worth $1,656,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. WFA of San Diego LLC purchased a new position in shares of Target in the 2nd quarter valued at about $25,000. Jessup Wealth Management Inc purchased a new position in Target during the fourth quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new position in Target during the fourth quarter worth approximately $26,000. Capital Advisors Ltd. LLC grew its holdings in Target by 245.6% in the first quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer's stock valued at $33,000 after purchasing an additional 194 shares during the period. Finally, Valued Wealth Advisors LLC grew its holdings in Target by 134.9% in the first quarter. Valued Wealth Advisors LLC now owns 296 shares of the retailer's stock valued at $36,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 79.73% of the company's stock.

Wall Street Analyst Weigh In

TGT has been the subject of several research analyst reports. BMO Capital Markets upped their target price on Target from $130.00 to $150.00 and gave the stock a "market perform" rating in a research note on Tuesday. Truist Financial increased their target price on Target from $130.00 to $147.00 and gave the company a "hold" rating in a research report on Friday. TD Cowen reissued a "hold" rating on shares of Target in a research note on Monday, August 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Target in a report on Friday, July 31st. Finally, DA Davidson upped their price objective on shares of Target from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Target has a consensus rating of "Hold" and a consensus price target of $143.30.

Target Price Performance

NYSE:TGT opened at $154.52 on Friday. The stock has a 50 day moving average of $138.02 and a two-hundred day moving average of $126.14. Target Corporation has a 12 month low of $83.44 and a 12 month high of $156.47. The firm has a market cap of $70.18 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 2.51 and a beta of 0.97. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.24. The business had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The business's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, analysts expect that Target Corporation will post 8.4 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a yield of 3.0%. This is an increase from Target's previous quarterly dividend of $1.14. Target's dividend payout ratio is currently 61.29%.

Insiders Place Their Bets

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the firm's 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 in the company, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company's stock.

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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