First National Bank of Omaha Takes Position in Target Corporation $TGT

First National Bank of Omaha purchased a new position in Target Corporation (NYSE:TGT) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 26,800 shares of the retailer’s stock, valued at approximately $3,535,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC boosted its position in Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after acquiring an additional 3,059 shares during the period. Woodline Partners LP lifted its stake in shares of Target by 39.9% in the first quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock worth $4,040,000 after acquiring an additional 11,047 shares during the period. NewEdge Advisors LLC boosted its position in Target by 22.8% during the second quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer’s stock valued at $6,872,000 after acquiring an additional 12,948 shares during the last quarter. Sei Investments Co. boosted its stake in Target by 8.0% during the second quarter. Sei Investments Co. now owns 190,860 shares of the retailer’s stock worth $18,832,000 after acquiring an additional 14,195 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Target by 11.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer’s stock worth $26,910,000 after purchasing an additional 27,063 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on TGT shares. Robert W. Baird upped their price objective on shares of Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st. Weiss Ratings restated a “hold (c)” rating on shares of Target in a research note on Friday, July 31st. Wells Fargo & Company increased their price objective on shares of Target from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Truist Financial increased their price target on shares of Target from $130.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Argus set a $150.00 target price on shares of Target in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $143.85.

Target Stock Performance

Target stock opened at $152.63 on Wednesday. The firm has a 50 day simple moving average of $139.08 and a 200-day simple moving average of $126.98. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The stock has a market cap of $69.32 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 2.51 and a beta of 0.96. Target Corporation has a 1-year low of $83.44 and a 1-year high of $156.47.

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. The company had revenue of $25.44 billion during the quarter, compared to analysts’ expectations of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.Target’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business posted $1.30 EPS. On average, analysts expect that Target Corporation will post 8.43 EPS for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a yield of 3.0%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is presently 61.29%.

Insider Activity at Target

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.

Target News Summary

Here are the key news stories impacting Target this week:

• Positive Sentiment: DA Davidson raised its price target on Target from $155 to $170 and reiterated a “buy” rating, implying additional upside from recent trading levels. Target price target raised by DA Davidson
• Positive Sentiment: Analysts are highlighting Target’s dividend appeal, which may support demand from income-oriented investors while the stock trades at a valuation below some retail peers. Why Target is a great dividend stock right now
• Neutral Sentiment: Target is scheduled to report second-quarter earnings before the market opens on Wednesday, August 19, followed by a 7:00 a.m. conference call. The event is the immediate catalyst for the stock and could produce significant volatility. Target second-quarter earnings conference call
• Neutral Sentiment: Pre-earnings coverage points to rising estimates, improving merchandising and the possibility of another earnings beat. Investors will focus on sales trends, margins, costs and management’s outlook, particularly because tough year-over-year comparisons could limit gains. Target pre-second-quarter earnings preview
• Negative Sentiment: A review of Target’s five-year performance underscores longer-term concerns: the stock has substantially lagged other major U.S. retailers, raising questions about its competitive position and sustainable growth prospects. Target’s stock down 40 percent in five years

About Target

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.