Allstate Corp Grows Position in Target Corporation $TGT

Allstate Corp increased its position in shares of Target Corporation (NYSE:TGT) by 105.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,263 shares of the retailer’s stock after purchasing an additional 17,607 shares during the period. Allstate Corp’s holdings in Target were worth $3,349,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. WFA of San Diego LLC bought a new stake in Target during the 2nd quarter valued at about $25,000. Global Wealth Strategies & Associates lifted its holdings in Target by 192.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock valued at $29,000 after buying an additional 192 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Target during the 4th quarter valued at about $30,000. Key Financial Inc lifted its holdings in Target by 77.4% during the 3rd quarter. Key Financial Inc now owns 346 shares of the retailer’s stock valued at $31,000 after buying an additional 151 shares in the last quarter. Finally, True Wealth Design LLC lifted its holdings in Target by 168.9% during the 4th quarter. True Wealth Design LLC now owns 355 shares of the retailer’s stock valued at $35,000 after buying an additional 223 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on TGT. Bank of America began coverage on shares of Target in a report on Friday, February 27th. They issued an “underperform” rating and a $103.00 price target for the company. Guggenheim restated a “buy” rating and issued a $140.00 price target on shares of Target in a report on Wednesday, May 20th. Evercore set a $130.00 price target on shares of Target in a report on Monday, May 18th. Telsey Advisory Group boosted their price target on shares of Target from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $123.00 price target on shares of Target in a report on Friday, May 15th. Eleven research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Target has an average rating of “Hold” and a consensus price target of $125.93.

Target Stock Up 2.2%

TGT stock opened at $128.25 on Thursday. The firm’s fifty day simple moving average is $123.07 and its 200-day simple moving average is $110.49. The company has a market capitalization of $58.25 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. Target Corporation has a 12 month low of $83.44 and a 12 month high of $133.10.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.47 by $0.24. The business had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, equities research analysts forecast that Target Corporation will post 8.35 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 13th will be given a dividend of $1.14 per share. The ex-dividend date is Wednesday, May 13th. This represents a $4.56 dividend on an annualized basis and a yield of 3.6%. Target’s dividend payout ratio is currently 60.24%.

Insiders Place Their Bets

In other Target news, CAO Matthew A. Liegel sold 2,053 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer directly owned 12,143 shares in the company, valued at approximately $1,423,038.17. This represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

About Target

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.