Equity Investment Corp Sells 262,178 Shares of Target Corporation $TGT

Equity Investment Corp cut its position in Target Corporation (NYSE:TGT) by 25.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 757,198 shares of the retailer’s stock after selling 262,178 shares during the quarter. Target accounts for approximately 1.6% of Equity Investment Corp’s investment portfolio, making the stock its 21st biggest holding. Equity Investment Corp’s holdings in Target were worth $118,645,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. purchased a new position in Target in the 2nd quarter worth about $5,054,604,000. Bank of New York Mellon Corp bought a new position in Target during the 2nd quarter valued at about $831,466,000. Jupiter Topco LLC bought a new position in Target during the 2nd quarter valued at about $320,006,000. Deutsche Bank AG purchased a new stake in shares of Target during the 2nd quarter valued at about $224,238,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Target during the 2nd quarter valued at about $150,784,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on TGT. Wolfe Research set a $169.00 price target on shares of Target in a research note on Monday, August 3rd. UBS Group increased their price objective on shares of Target from $166.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. JPMorgan Chase & Co. increased their price objective on shares of Target from $157.00 to $163.00 and gave the company a “neutral” rating in a research report on Monday. Weiss Ratings upgraded shares of Target from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Jefferies Financial Group lifted their target price on shares of Target from $161.00 to $177.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Target presently has an average rating of “Hold” and a consensus target price of $161.70.

Insider Activity at Target

In other news, insider Melissa Kremer sold 15,500 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $169.96, for a total value of $2,634,380.00. Following the transaction, the insider owned 56,981 shares in the company, valued at $9,684,490.76. This represents a 21.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew Liegel sold 926 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $163.51, for a total transaction of $151,410.26. Following the completion of the transaction, the chief accounting officer directly owned 12,266 shares in the company, valued at approximately $2,005,613.66. The trade was a 7.02% decrease in their position. The SEC filing for this sale provides additional information. 0.13% of the stock is owned by corporate insiders.

Target Stock Down 2.5%

Target stock opened at $161.82 on Wednesday. Target Corporation has a one year low of $83.44 and a one year high of $170.75. The stock has a fifty day moving average of $156.48 and a 200 day moving average of $135.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99. The stock has a market cap of $73.51 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 3.07 and a beta of 0.94.

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $1.76. The business had revenue of $26.54 billion for the quarter, compared to analysts’ expectations of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, sell-side analysts predict that Target Corporation will post 8.91 EPS for the current year.

Target Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Wednesday, November 11th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, November 10th. Target’s dividend payout ratio is 48.18%.

Target Company Profile

Target Corporation is a U.S. general merchandise retailer that sells products through its stores and digital channels. Its assortment includes apparel and accessories, beauty products, home goods, groceries, electronics, toys, and household essentials, along with merchandise from national brands and Target-owned brands. The company also offers services such as in-store and curbside order pickup and same-day delivery in eligible areas. Target serves customers across the United States. The company traces its history to the Dayton Dry Goods Company, founded in Minneapolis in 1902.