Target Corporation $TGT Shares Sold by NorthRock Partners LLC

Key Points

• NorthRock Partners reduced its Target stake by 25% in the second quarter, selling 6,865 shares and retaining 20,563 shares valued at approximately $2.69 million.
• Target has a consensus “Hold” rating from analysts, with an average price target of $159.52; ratings include 11 Buys, 18 Holds and 3 Sells.
• Target reported strong quarterly results, posting $4.11 in EPS versus the $2.35 consensus estimate and revenue of $26.54 billion, up 5.3% year over year.

NorthRock Partners LLC cut its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 25.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,563 shares of the retailer's stock after selling 6,865 shares during the quarter. NorthRock Partners LLC's holdings in Target were worth $2,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Winning Points Advisors LLC acquired a new position in Target in the fourth quarter valued at $611,000. Franklin Resources Inc. increased its stake in Target by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer's stock worth $605,507,000 after acquiring an additional 142,937 shares during the last quarter. Bogart Wealth LLC increased its stake in Target by 41.8% during the first quarter. Bogart Wealth LLC now owns 111,001 shares of the retailer's stock worth $13,453,000 after acquiring an additional 32,746 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of Target in the 1st quarter worth about $6,686,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Target in the 4th quarter worth about $27,470,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TGT. Evercore set a $170.00 target price on Target in a report on Thursday, August 20th. Wolfe Research set a $169.00 target price on shares of Target in a research report on Monday, August 3rd. KeyCorp restated a "sector weight" rating on shares of Target in a report on Thursday, August 20th. Bank of America reaffirmed an "underperform" rating and set a $124.00 price target (up from $110.00) on shares of Target in a research report on Wednesday, August 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Target from $165.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, August 20th. Eleven research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $159.52.

Insider Buying and Selling at Target

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

Target Stock Performance

Shares of NYSE:TGT opened at $157.63 on Thursday. The company has a market cap of $71.61 billion, a P/E ratio of 16.37, a PEG ratio of 3.03 and a beta of 0.99. 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 one year low of $83.44 and a one year high of $170.75. The business's 50-day simple moving average is $148.64 and its 200 day simple moving average is $132.65.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, topping the consensus estimate of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%.The firm had revenue of $26.54 billion for the quarter, compared to analyst estimates of $26.13 billion. During the same period in the previous year, the company posted $2.05 EPS. Target's revenue for the quarter was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, sell-side analysts forecast that Target Corporation will post 8.85 earnings per share for the current fiscal year.

Target Company Profile

Target Corporation is a general merchandise retailer that operates stores and digital shopping channels across the United States. Its assortment includes apparel and accessories, beauty products, home furnishings and décor, electronics, toys, sporting goods, household essentials, groceries and other everyday merchandise.

Target offers a combination of in-store and digital services, including order pickup, Drive Up and same-day delivery through Shipt. The company also develops and sells a broad portfolio of owned brands, while offering national-brand products and merchandise through a range of seasonal and specialty categories.

The company traces its history to the Dayton Company, founded in Minneapolis in 1902.

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