Intech Investment Management LLC Lowers Position in Target Corporation $TGT

Intech Investment Management LLC lessened its position in Target Corporation (NYSE:TGT) by 11.6% in the fourth quarter, HoldingsChannel reports. The firm owned 60,186 shares of the retailer’s stock after selling 7,871 shares during the quarter. Intech Investment Management LLC’s holdings in Target were worth $5,883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TGT. Vanguard Group Inc. increased its stake in shares of Target by 12.6% during the third quarter. Vanguard Group Inc. now owns 57,925,898 shares of the retailer’s stock valued at $5,195,953,000 after purchasing an additional 6,481,560 shares in the last quarter. State Street Corp increased its stake in shares of 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 in the last quarter. Amundi increased its stake in shares of Target by 38.6% during the third quarter. Amundi now owns 1,913,883 shares of the retailer’s stock valued at $170,278,000 after purchasing an additional 533,416 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Target by 17.1% during the second quarter. Ameriprise Financial Inc. now owns 3,162,050 shares of the retailer’s stock valued at $311,911,000 after purchasing an additional 461,495 shares in the last quarter. Finally, Caisse de depot et placement du Quebec increased its stake in shares of Target by 1,593.8% during the third quarter. Caisse de depot et placement du Quebec now owns 439,839 shares of the retailer’s stock valued at $39,454,000 after purchasing an additional 413,871 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Transactions at Target

In related news, CAO Matthew A. Liegel sold 2,053 shares of the firm’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 value of $240,591.07. Following the sale, the chief accounting officer owned 12,143 shares in the company, valued at approximately $1,423,038.17. This trade represents a 14.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Target Trading Down 1.1%

NYSE:TGT opened at $127.25 on Friday. The company’s 50 day moving average price is $123.56 and its 200-day moving average price is $110.87. 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. The stock has a market cap of $57.80 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.48 and a beta of 1.01.

Target (NYSE:TGT) last posted its quarterly 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 firm had revenue of $25.44 billion for the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The business’s revenue for the quarter 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, equities research analysts forecast that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Wednesday, May 13th will be issued a $1.14 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $4.56 annualized dividend and a yield of 3.6%. Target’s dividend payout ratio (DPR) is currently 60.24%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TGT. Roth Mkm reaffirmed a “neutral” rating and set a $114.00 target price on shares of Target in a research note on Friday, May 22nd. Barclays raised their target price on shares of Target from $108.00 to $115.00 and gave the company an “underweight” rating in a research note on Tuesday, May 12th. Argus set a $150.00 target price on shares of Target in a research note on Friday, May 22nd. JPMorgan Chase & Co. raised their target price on shares of Target from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Finally, Piper Sandler raised their target price on shares of Target from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Thursday, May 21st. Eleven research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Target presently has a consensus rating of “Hold” and an average target price of $125.93.

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.