Commonwealth Equity Services LLC trimmed its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 256,023 shares of the retailer's stock after selling 8,772 shares during the period. Commonwealth Equity Services LLC owned about 0.06% of Target worth $40,116,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Target during the second quarter worth $5,054,604,000. Bank of New York Mellon Corp bought a new stake in Target during the second quarter worth $831,466,000. Dimensional Fund Advisors LP lifted its stake in Target by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,413,840 shares of the retailer's stock valued at $656,091,000 after acquiring an additional 411,608 shares during the last quarter. Bank of America Corp DE lifted its stake in Target by 1.8% in the second quarter. Bank of America Corp DE now owns 4,575,880 shares of the retailer's stock valued at $597,656,000 after acquiring an additional 82,268 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Target by 12.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,514,522 shares of the retailer's stock valued at $589,642,000 after acquiring an additional 514,155 shares during the last quarter. Institutional investors own 79.73% of the company's stock.
Insider Activity at Target
In related news, CAO Matthew Liegel sold 926 shares of the business'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 in the company, valued at $2,005,613.66. The trade was a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Melissa Kremer sold 15,500 shares of the business's stock in a transaction 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 of the company's stock, valued at $9,684,490.76. This trade represents a 21.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.13% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Gordon Haskett decreased their price objective on shares of Target from $200.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, October 9th. DA Davidson upped their target price on shares of Target from $170.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Weiss Ratings upgraded shares of Target from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Oppenheimer upgraded Target from a "hold" rating to a "buy" rating and lifted their price target for the stock from $125.00 to $190.00 in a report on Wednesday, September 30th. Finally, Wells Fargo & Company lifted their price target on Target from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $161.50.
Check Out Our Latest Research Report on Target
Target Trading Down 0.2%
TGT stock opened at $158.16 on Monday. Target Corporation has a one year low of $83.44 and a one year high of $170.75. The stock has a market cap of $71.85 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.93 and a beta of 0.94. The company has a fifty day moving average price of $156.41 and a two-hundred day moving average price of $135.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36.
Target (NYSE:TGT - Get Free Report) last posted its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The company had revenue of $26.54 billion during the quarter, compared to analysts' expectations of $26.13 billion. During the same quarter last year, the company posted $2.05 EPS. Target'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. Equities analysts anticipate that Target Corporation will post 8.91 EPS for the current year.
Target Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 11th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, November 10th. Target's dividend payout ratio (DPR) is presently 48.18%.
Target Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corporation (NYSE:TGT - Free Report).
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