Target Corporation $TGT Stake Lowered by Kingsview Wealth Management LLC

Key Points

• Kingsview Wealth Management LLC cut its Target stake by 16.6% in the fourth quarter, selling 19,218 shares and leaving it with 96,229 shares worth about $9.4 million.
• Target reported better-than-expected quarterly results, with earnings of $1.71 per share versus $1.47 expected and revenue of $25.44 billion, up 6.7% year over year.
• The retailer also declared a quarterly dividend of $1.14 per share, equal to an annualized yield of 3.5%, while analysts currently rate the stock a consensus Hold with an average price target of $125.93.

Kingsview Wealth Management LLC trimmed its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,229 shares of the retailer's stock after selling 19,218 shares during the quarter. Kingsview Wealth Management LLC's holdings in Target were worth $9,406,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock valued at $822,000 after acquiring an additional 3,059 shares during the period. Woodline Partners LP increased its holdings in shares of Target by 39.9% in the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer's stock worth $4,040,000 after acquiring an additional 11,047 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Target by 22.8% in the 2nd quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer's stock worth $6,872,000 after acquiring an additional 12,948 shares during the period. Sei Investments Co. lifted its position in Target by 8.0% in the 2nd quarter. Sei Investments Co. now owns 190,860 shares of the retailer's stock valued at $18,832,000 after purchasing an additional 14,195 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Target by 11.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer's stock valued at $26,910,000 after purchasing an additional 27,063 shares during the period. Institutional investors own 79.73% of the company's stock.

Target Stock Performance

Shares of NYSE TGT opened at $128.59 on Friday. Target Corporation has a 1 year low of $83.44 and a 1 year high of $133.10. The firm has a market cap of $58.40 billion, a P/E ratio of 16.99, a PEG ratio of 2.51 and a beta of 1.01. The stock has a fifty day moving average price of $123.31 and a two-hundred day moving average price of $110.76. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The company's revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Research analysts forecast that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Wednesday, May 13th will be issued a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, May 13th. Target's payout ratio is presently 60.24%.

Analyst Upgrades and Downgrades

Several research analysts have commented on TGT shares. Robert W. Baird upped their target price on shares of Target from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 21st. Telsey Advisory Group increased their price objective on Target from $148.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, May 21st. Weiss Ratings restated a "hold (c)" rating on shares of Target in a research report on Monday, May 4th. BMO Capital Markets boosted their price target on Target from $105.00 to $130.00 and gave the stock a "market perform" rating in a research report on Wednesday, March 4th. Finally, Guggenheim reissued a "buy" rating and issued a $140.00 price target on shares of Target in a research note on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Target presently has a consensus rating of "Hold" and an average price target of $125.93.

Insider Activity at Target

In related news, CAO Matthew A. Liegel sold 2,053 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total transaction of $240,591.07. Following the completion of the sale, the chief accounting officer directly owned 12,143 shares of the company's stock, valued at $1,423,038.17. This represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Target Company 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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