Target Corporation $TGT Stock: Rayburn West Financial Services LLC Lowers Holdings

Key Points

• Rayburn West Financial Services cut its Target stake by 57.8% in the third quarter, selling 17,187 shares and retaining 12,574 shares valued at about $1.97 million.
• Target reported quarterly EPS of $4.11, beating the $2.35 consensus, while revenue rose 5.3% year over year to $26.54 billion. The company declared a $1.16 quarterly dividend, equivalent to a 2.9% yield.
• Analysts’ overall rating was Hold, with a consensus price target of $161.50; institutional investors owned 79.73% of Target’s stock.

Rayburn West Financial Services LLC decreased its stake in Target Corporation (NYSE:TGT - Free Report) by 57.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,574 shares of the retailer's stock after selling 17,187 shares during the period. Target makes up 1.0% of Rayburn West Financial Services LLC's portfolio, making the stock its 28th largest holding. Rayburn West Financial Services LLC's holdings in Target were worth $1,970,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TGT. BlackRock Inc. bought a new stake in Target in the 2nd quarter valued at $5,054,604,000. Bank of New York Mellon Corp acquired a new stake in Target in the 2nd quarter worth $831,466,000. Dimensional Fund Advisors LP increased its holdings in shares of Target by 8.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,413,840 shares of the retailer's stock worth $656,091,000 after purchasing an additional 411,608 shares during the period. Bank of America Corp DE increased its holdings 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Target by 12.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,514,522 shares of the retailer's stock worth $589,642,000 after purchasing an additional 514,155 shares during the period. Institutional investors own 79.73% of the company's stock.

Target Trading Up 0.1%

TGT stock opened at $158.16 on Friday. Target Corporation has a 1-year low of $83.44 and a 1-year high of $170.75. 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 business's 50 day moving average is $156.41 and its 200-day moving average is $135.02. The firm has a market cap of $71.85 billion, a P/E ratio of 16.42, a P/E/G ratio of 2.93 and a beta of 0.94.

Target (NYSE:TGT - Get Free Report) last posted its 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. The business had revenue of $26.54 billion during the quarter, compared to the consensus estimate of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%. Target's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Equities analysts anticipate that Target Corporation will post 8.91 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Wednesday, November 11th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, November 10th. Target's payout ratio is currently 48.18%.

Analysts Set New Price Targets

TGT has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of Target from $166.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Jefferies Financial Group lifted their target price on Target from $161.00 to $177.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. JPMorgan Chase & Co. lifted their target price on Target from $129.00 to $157.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Mizuho set a $150.00 price target on Target and gave the company a "neutral" rating in a research note on Thursday, August 20th. Finally, Wells Fargo & Company upped their price target on Target from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $161.50.

Insider Buying and Selling at Target

In other news, insider Melissa Kremer sold 15,500 shares of the company's stock in a transaction dated 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 sale, the insider owned 56,981 shares of the company's stock, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew Liegel sold 926 shares of the company's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $163.51, for a total transaction of $151,410.26. Following the completion of the sale, the chief accounting officer directly owned 12,266 shares in the company, valued at approximately $2,005,613.66. The trade was a 7.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by insiders.

About Target

Target Corporation is a U.S. general merchandise retailer that sells products through its stores and digital channels. Its assortment includes apparel and accessories, beauty products, home goods, groceries, electronics, toys, and household essentials, along with merchandise from national brands and Target-owned brands.

The company also offers services such as in-store and curbside order pickup and same-day delivery in eligible areas. Target serves customers across the United States.

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

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