Equity Investment Corp Lowers Stake in Target Corporation $TGT

Equity Investment Corp reduced its stake in shares of Target Corporation (NYSE:TGT) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,154,851 shares of the retailer’s stock after selling 140,758 shares during the quarter. Target makes up approximately 2.3% of Equity Investment Corp’s investment portfolio, making the stock its 19th largest position. Equity Investment Corp owned approximately 0.26% of Target worth $112,887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in TGT. Brighton Jones LLC raised its holdings in shares of Target by 101.3% in the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after acquiring an additional 3,059 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Target by 39.9% in the first quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock valued at $4,040,000 after acquiring an additional 11,047 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Target by 22.8% in the second quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer’s stock valued at $6,872,000 after acquiring an additional 12,948 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Target by 8.0% in the second quarter. Sei Investments Co. now owns 190,860 shares of the retailer’s stock valued at $18,832,000 after acquiring an additional 14,195 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Target by 11.0% in the second quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer’s stock valued at $26,910,000 after acquiring an additional 27,063 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the completion of the transaction, the insider directly owned 45,930 shares of the company’s stock, valued at $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Matthew A. Liegel sold 2,053 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total value of $240,591.07. Following the completion of the transaction, the chief accounting officer directly owned 12,143 shares of the company’s stock, valued at approximately $1,423,038.17. This represents a 14.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TGT. The Goldman Sachs Group restated a “neutral” rating on shares of Target in a report on Thursday. Mizuho set a $120.00 target price on shares of Target in a report on Thursday, March 5th. Citigroup boosted their target price on shares of Target from $117.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $124.00 target price on shares of Target in a report on Thursday, May 21st. Finally, Morgan Stanley boosted their target price on shares of Target from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Eleven investment analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $125.93.

Target Price Performance

Shares of NYSE TGT opened at $132.59 on Friday. The business’s 50 day moving average price is $125.12 and its 200 day moving average price is $113.34. The firm has a market cap of $60.22 billion, a P/E ratio of 17.52, a P/E/G ratio of 2.50 and a beta of 1.00. Target Corporation has a 52 week low of $83.44 and a 52 week high of $133.10. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87.

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

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be given a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 annualized dividend and a yield of 3.5%. This is a boost from Target’s previous quarterly dividend of $1.14. Target’s payout ratio is currently 60.24%.

Target Profile

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.