NBT Bank N A NY Trims Stake in Target Corporation $TGT

NBT Bank N A NY lowered its position in Target Corporation (NYSE:TGT) by 28.7% during the 1st quarter, HoldingsChannel reports. The firm owned 18,685 shares of the retailer’s stock after selling 7,535 shares during the period. NBT Bank N A NY’s holdings in Target were worth $2,265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TGT. Howe & Rusling Inc. increased its stake in Target by 3.1% in the 1st quarter. Howe & Rusling Inc. now owns 2,951 shares of the retailer’s stock worth $358,000 after acquiring an additional 90 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co bought a new stake in shares of Target during the 1st quarter valued at about $210,000. V Square Quantitative Management LLC grew its holdings in shares of Target by 7.7% during the first quarter. V Square Quantitative Management LLC now owns 14,336 shares of the retailer’s stock worth $1,738,000 after purchasing an additional 1,020 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Target by 32.3% in the first quarter. QRG Capital Management Inc. now owns 78,204 shares of the retailer’s stock worth $9,478,000 after purchasing an additional 19,106 shares during the last quarter. Finally, Burford Brothers Inc. increased its position in shares of Target by 11.5% in the first quarter. Burford Brothers Inc. now owns 8,570 shares of the retailer’s stock worth $1,039,000 after purchasing an additional 885 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wolfe Research raised shares of Target from a “peer perform” rating to an “outperform” rating and set a $162.00 target price on the stock in a research note on Tuesday, June 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Target in a report on Monday, May 4th. JPMorgan Chase & Co. raised their price objective on shares of Target from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Evercore set a $130.00 target price on shares of Target in a research report on Monday, May 18th. Finally, Truist Financial upped their target price on shares of Target from $123.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, May 20th. Twelve analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Target presently has a consensus rating of “Hold” and a consensus target price of $130.64.

Insider Activity

In other news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the transaction, the insider directly owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

Target Trading Up 0.1%

TGT stock opened at $130.31 on Friday. The company has a market capitalization of $59.19 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.54 and a beta of 0.98. Target Corporation has a one year low of $83.44 and a one year high of $142.82. The company’s 50 day moving average price is $128.22 and its two-hundred day moving average price is $117.85. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share (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 company had revenue of $25.44 billion during the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter in the prior year, the company earned $1.30 EPS. 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. As a group, analysts predict that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This is a positive change from Target’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 3.6%. Target’s dividend payout ratio (DPR) is currently 60.24%.

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.