Allspring Global Investments Holdings LLC Purchases 51,477 Shares of Target Corporation $TGT

Allspring Global Investments Holdings LLC lifted its position in shares of Target Corporation (NYSE:TGT) by 43.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,981 shares of the retailer’s stock after acquiring an additional 51,477 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Target were worth $20,595,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Target by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock valued at $5,690,262,000 after purchasing an additional 286,499 shares during the last quarter. State Street Corp raised its holdings in Target by 0.3% in the 4th quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock valued at $3,692,265,000 after buying an additional 124,468 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Target by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock worth $1,668,194,000 after buying an additional 561,898 shares during the period. Franklin Resources Inc. grew its holdings in Target by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock worth $605,507,000 after acquiring an additional 142,937 shares during the last quarter. Finally, Norges Bank acquired a new position in Target in the 4th quarter valued at approximately $587,903,000. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Citigroup lifted their price target on shares of Target from $117.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Target in a research report on Thursday, June 11th. Roth Capital reaffirmed a “neutral” rating and set a $114.00 target price on shares of Target in a report on Friday, May 22nd. Jefferies Financial Group upped their price target on Target from $140.00 to $161.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Finally, DA Davidson increased their price target on Target from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $132.15.

Insiders Place Their Bets

In other news, insider Cara A. Sylvester sold 10,000 shares of Target stock in a transaction on Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the sale, the insider owned 45,930 shares in the company, valued at $5,782,127.70. The trade was a 17.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.13% of the company’s stock.

Target Price Performance

TGT stock opened at $139.63 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The firm has a market cap of $63.42 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 2.73 and a beta of 0.98. The company’s fifty day simple moving average is $129.77 and its 200 day simple moving average is $120.88. Target Corporation has a 12-month low of $83.44 and a 12-month high of $144.40.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same period last year, the business posted $1.30 EPS. The business’s 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, analysts expect that Target Corporation will post 8.35 earnings per share for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. This is an increase from Target’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 12th. Target’s payout ratio is 60.24%.

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.