Target Corporation $TGT Stock Sold by Mather Group LLC.

Key Points

• Mather Group LLC reduced its Target stake by 10.4% in the third quarter, selling 13,136 shares and retaining 112,579 shares valued at approximately $17.64 million. Institutional investors and hedge funds collectively own 79.73% of Target.
• Analysts maintain a mixed outlook, with Target carrying an average rating of “Hold” and an average price target of $159.33. Several firms raised their targets, including DA Davidson and Wells Fargo, which moved theirs to $185.
• Target reported strong quarterly results, with EPS of $4.11 versus the $2.35 consensus estimate and revenue up 5.3% year over year to $26.54 billion. The company also declared a $1.16 quarterly dividend, equal to a 3.0% annualized yield.

Mather Group LLC. trimmed its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 10.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,579 shares of the retailer's stock after selling 13,136 shares during the quarter. Mather Group LLC.'s holdings in Target were worth $17,640,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TGT. Bogart Wealth LLC lifted its position in shares of 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 purchasing an additional 32,746 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Target in the first quarter worth about $6,686,000. Saudi Central Bank grew its stake in Target by 89.7% in the second quarter. Saudi Central Bank now owns 31,700 shares of the retailer's stock worth $4,140,000 after purchasing an additional 14,986 shares in the last quarter. Nicholas Investment Partners LP grew its stake in Target by 204.3% in the second quarter. Nicholas Investment Partners LP now owns 55,154 shares of the retailer's stock worth $7,204,000 after purchasing an additional 37,030 shares in the last quarter. Finally, Engineers Gate Manager LP increased its holdings in Target by 4,119.2% in the second quarter. Engineers Gate Manager LP now owns 372,558 shares of the retailer's stock valued at $48,660,000 after buying an additional 363,728 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler upped their price objective on Target from $146.00 to $153.00 and gave the company a "neutral" rating in a research note on Thursday, August 20th. BMO Capital Markets increased their target price on Target from $150.00 to $160.00 and gave the stock a "market perform" rating in a report on Thursday, August 20th. DA Davidson increased their target price on Target from $170.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Wells Fargo & Company lifted their target price on Target from $165.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Target in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $159.33.

Insider Activity

In other Target news, insider Melissa Kremer sold 15,500 shares of the firm'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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Matthew Liegel sold 926 shares of the firm'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 transaction, the chief accounting officer directly owned 12,266 shares in the company, valued at $2,005,613.66. This represents a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.13% of the stock is owned by corporate insiders.

Target Stock Up 2.2%

Shares of NYSE:TGT opened at $155.33 on Thursday. The stock has a market capitalization of $70.57 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.82 and a beta of 0.98. Target Corporation has a 1-year low of $83.44 and a 1-year high of $170.75. The company's fifty day moving average is $157.48 and its two-hundred day moving average is $139.54. 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 (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 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 for the quarter, compared to the consensus estimate of $26.13 billion. During the same period last year, the firm posted $2.05 EPS. The company'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. Equities analysts anticipate that Target Corporation will post 8.89 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 11th will be paid a dividend of $1.16 per share. The ex-dividend date is Tuesday, November 10th. This represents a $4.64 annualized dividend and a yield of 3.0%. Target's dividend payout ratio is 48.18%.

Target Company Profile

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping channels under the Target brand. The company sells a broad assortment of products, including apparel and accessories, beauty and personal care items, home furnishings, electronics, groceries, toys, seasonal merchandise and everyday essentials.

Target offers private-label brands alongside national brands and provides services such as Order Pickup, Drive Up and same-day delivery through Shipt.

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