Target Corporation $TGT Shares Sold by Formidable Asset Management LLC

Formidable Asset Management LLC lessened its stake in Target Corporation (NYSE:TGT) by 45.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,827 shares of the retailer’s stock after selling 3,993 shares during the quarter. Formidable Asset Management LLC’s holdings in Target were worth $585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Red Door Wealth Management LLC acquired a new stake in shares of Target in the first quarter valued at about $228,000. Patriot Financial Group Insurance Agency LLC raised its position in shares of Target by 310.9% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 20,996 shares of the retailer’s stock worth $2,545,000 after purchasing an additional 15,886 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Target by 0.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 702,774 shares of the retailer’s stock worth $85,176,000 after purchasing an additional 6,464 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in Target by 4.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 349,112 shares of the retailer’s stock valued at $42,312,000 after buying an additional 14,463 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Target by 0.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 260,014 shares of the retailer’s stock valued at $31,514,000 after buying an additional 1,154 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Down 4.7%

Shares of Target stock opened at $133.81 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The stock’s 50 day simple moving average is $128.20 and its 200-day simple moving average is $117.04. The stock has a market cap of $60.78 billion, a P/E ratio of 17.68, a P/E/G ratio of 2.74 and a beta of 1.00. Target Corporation has a 1-year low of $83.44 and a 1-year high of $142.82.

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

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 3.5%. This is a boost from Target’s previous quarterly dividend of $1.14. Target’s payout ratio is presently 61.29%.

Insider Activity at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the transaction, the insider owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. The trade was a 17.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Argus set a $150.00 price objective on Target in a report on Friday, May 22nd. The Goldman Sachs Group reissued a “neutral” rating on shares of Target in a report on Thursday, June 11th. Freedom Capital downgraded Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Wolfe Research raised Target from a “peer perform” rating to an “outperform” rating and set a $162.00 price target on the stock in a research note on Tuesday, June 23rd. Finally, Citigroup boosted their price target on Target from $117.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Twelve equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $130.64.

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.