Cary Street Partners Financial LLC Decreases Position in Target Corporation $TGT

Cary Street Partners Financial LLC cut its position in Target Corporation (NYSE:TGT) by 60.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,781 shares of the retailer’s stock after selling 18,289 shares during the period. Cary Street Partners Financial LLC’s holdings in Target were worth $1,152,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Target by 0.5% during 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 period. State Street Corp lifted its position in Target by 2.5% during the third quarter. State Street Corp now owns 37,648,065 shares of the retailer’s stock valued at $3,377,031,000 after purchasing an additional 911,964 shares during the period. Dimensional Fund Advisors LP lifted its position in Target by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 5,051,151 shares of the retailer’s stock valued at $453,050,000 after purchasing an additional 122,300 shares during the period. Invesco Ltd. lifted its position in Target by 10.2% during the third quarter. Invesco Ltd. now owns 3,910,163 shares of the retailer’s stock valued at $350,742,000 after purchasing an additional 360,781 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Target by 0.8% in the 3rd quarter. Legal & General Group Plc now owns 3,309,746 shares of the retailer’s stock worth $296,884,000 after buying an additional 25,989 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Up 0.2%

Shares of TGT stock opened at $128.59 on Friday. Target Corporation has a 12 month low of $83.44 and a 12 month high of $133.10. The stock has a market cap of $58.40 billion, a P/E ratio of 16.99, a P/E/G ratio of 2.51 and a beta of 1.01. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. The company has a 50 day simple moving average of $123.31 and a two-hundred day simple moving average of $110.76.

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

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 13th will be issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, May 13th. Target’s dividend payout ratio is currently 60.24%.

Analysts Set New Price Targets

TGT has been the topic of a number of research reports. Oppenheimer raised their price target on Target from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 4th. Bank of America initiated coverage on Target in a research note on Friday, February 27th. They issued an “underperform” rating and a $103.00 price target on the stock. DA Davidson raised their price target on Target from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. UBS Group raised their price target on Target from $130.00 to $144.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Royal Bank Of Canada raised their price target on Target from $132.00 to $153.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Eleven analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $125.93.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 2,053 shares of the company’s stock in a transaction that occurred 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 sale, 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.