Target Corporation $TGT Stock: Bokf Na Boosts Holdings

Key Points

• Bokf Na increased its Target position by 15.7% in the third quarter, ending with 59,974 shares valued at approximately $9.4 million. Institutional investors collectively own 79.73% of Target.
• Target reported strong quarterly results, with EPS of $4.11 versus the $2.35 consensus estimate and revenue of $26.54 billion, up 5.3% year over year.
• Target declared a quarterly dividend of $1.16 per share, equivalent to a $4.64 annualized payout and a 3.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $159.33.

Bokf Na boosted its position in Target Corporation (NYSE:TGT - Free Report) by 15.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,974 shares of the retailer's stock after buying an additional 8,123 shares during the quarter. Bokf Na's holdings in Target were worth $9,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hanseatic Management Services Inc. bought a new stake in shares of Target during the third quarter valued at approximately $847,000. North Star Investment Management Corp. grew its holdings in Target by 0.5% in the 3rd quarter. North Star Investment Management Corp. now owns 34,859 shares of the retailer's stock worth $5,462,000 after buying an additional 163 shares in the last quarter. Stockman Wealth Management Inc. grew its holdings in Target by 8.7% in the 3rd quarter. Stockman Wealth Management Inc. now owns 1,753 shares of the retailer's stock worth $275,000 after buying an additional 141 shares in the last quarter. Convergence Financial LLC increased its position in Target by 365.8% in the 3rd quarter. Convergence Financial LLC now owns 11,124 shares of the retailer's stock valued at $1,743,000 after acquiring an additional 8,736 shares during the period. Finally, Sigma Investment Counselors Inc. raised its stake in Target by 158.1% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 4,013 shares of the retailer's stock valued at $629,000 after acquiring an additional 2,458 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Insider Activity

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

Target Stock Performance

NYSE:TGT opened at $151.80 on Friday. The company has a 50-day moving average of $157.21 and a 200-day moving average of $133.57. The firm has a market cap of $68.96 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 2.76 and a beta of 0.98. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80. 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 posted its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The firm had revenue of $26.54 billion for the quarter, compared to analyst estimates of $26.13 billion. During the same quarter in the previous year, the business posted $2.05 earnings per share. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Analysts forecast that Target Corporation will post 8.89 earnings per share for the current fiscal year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 11th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $4.64 dividend on an annualized basis and a yield of 3.1%. Target's dividend payout ratio is currently 48.18%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Target from $148.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, August 20th. Barclays increased their target price on shares of Target from $115.00 to $140.00 and gave the company an "underweight" rating in a research report on Wednesday, August 19th. Piper Sandler upped their price target on shares of Target from $146.00 to $153.00 and gave the stock a "neutral" rating in a research note on Thursday, August 20th. Robert W. Baird set a $170.00 price objective on shares of Target in a report on Thursday, August 20th. Finally, Bank of America reiterated an "underperform" rating and set a $124.00 price objective (up from $110.00) on shares of Target in a research note on Wednesday, August 12th. One investment 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, Target currently has a consensus rating of "Hold" and a consensus target price 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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