Franklin Resources Inc. Buys 142,937 Shares of Target Corporation $TGT

Franklin Resources Inc. boosted its stake in Target Corporation (NYSE:TGT) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,194,448 shares of the retailer’s stock after purchasing an additional 142,937 shares during the period. Franklin Resources Inc.’s holdings in Target were worth $605,507,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. WFA of San Diego LLC purchased a new position in shares of Target in the second quarter worth $25,000. Global Wealth Strategies & Associates boosted its position in Target by 192.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock valued at $29,000 after buying an additional 192 shares during the period. Eagle Bay Advisors LLC purchased a new stake in Target during the 4th quarter valued at $30,000. Key Financial Inc grew its holdings in Target by 77.4% in the 3rd quarter. Key Financial Inc now owns 346 shares of the retailer’s stock worth $31,000 after acquiring an additional 151 shares during the last quarter. Finally, True Wealth Design LLC increased its position in shares of Target by 168.9% in the fourth quarter. True Wealth Design LLC now owns 355 shares of the retailer’s stock valued at $35,000 after acquiring an additional 223 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the subject of several recent analyst reports. Robert W. Baird upped their price objective on shares of Target from $125.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 21st. Oppenheimer upped their price target on Target from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, March 4th. Guggenheim reiterated a “buy” rating and issued a $140.00 price objective on shares of Target in a report on Wednesday, May 20th. KeyCorp reiterated a “sector weight” rating on shares of Target in a research report on Thursday, May 21st. Finally, Bank of America began coverage on Target in a report on Friday, February 27th. They set an “underperform” rating and a $103.00 target price for the company. Eleven analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $125.93.

Insider Transactions at Target

In related 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 sale, the insider owned 45,930 shares of the company’s stock, valued at $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Matthew A. Liegel sold 2,053 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was 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 owned 12,143 shares in the company, valued at approximately $1,423,038.17. This trade represents a 14.46% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.13% of the company’s stock.

Target Trading Up 1.0%

NYSE TGT opened at $123.79 on Tuesday. The firm has a market capitalization of $56.22 billion, a PE ratio of 16.35, a P/E/G ratio of 2.39 and a beta of 1.00. The stock’s 50 day moving average is $124.57 and its 200 day moving average is $112.43. Target Corporation has a twelve month low of $83.44 and a twelve month 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.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 13th were given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, May 13th. Target’s dividend payout ratio (DPR) is 60.24%.

Target Company 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.