Munich Reinsurance Co Stock Corp in Munich Has $6.75 Million Stock Position in Target Corporation $TGT

Munich Reinsurance Co Stock Corp in Munich reduced its position in shares of Target Corporation (NYSE:TGT) by 6.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 51,673 shares of the retailer’s stock after selling 3,488 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Target were worth $6,749,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGT. BlackRock Inc. acquired a new position in Target during the 2nd quarter worth $5,054,604,000. State Street Corp grew its position in shares of Target by 0.3% in the fourth quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock valued at $3,692,265,000 after purchasing an additional 124,468 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Target by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock valued at $1,668,194,000 after purchasing an additional 561,898 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Target in the second quarter worth about $831,466,000. Finally, Franklin Resources Inc. increased its stake in shares of Target by 2.4% in the fourth quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock worth $605,507,000 after purchasing an additional 142,937 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on TGT shares. Bank of America restated an “underperform” rating and set a $124.00 target price (up from $110.00) on shares of Target in a research note on Wednesday, August 12th. Wall Street Zen raised Target from a “buy” rating to a “strong-buy” rating in a research report on Saturday. TD Cowen upped their price target on Target from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Thursday, August 20th. JPMorgan Chase & Co. upped their price target on Target from $129.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, BMO Capital Markets increased their price objective on Target from $150.00 to $160.00 and gave the company a “market perform” rating in a research report on Thursday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Target has an average rating of “Hold” and a consensus price target of $159.52.

Insider Activity at Target

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

Target Stock Up 0.1%

Shares of TGT opened at $164.15 on Friday. 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 company has a 50-day simple moving average of $146.84 and a 200-day simple moving average of $131.57. Target Corporation has a 52 week low of $83.44 and a 52 week high of $170.75. The firm has a market capitalization of $74.57 billion, a P/E ratio of 17.05, a P/E/G ratio of 3.05 and a beta of 0.99.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%.The business had revenue of $26.54 billion for the quarter, compared to the consensus estimate of $26.13 billion. During the same period last year, the business earned $2.05 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, equities research analysts expect that Target Corporation will post 8.85 earnings per share for the current year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, August 12th. This is a boost from Target’s previous quarterly dividend of $1.14. Target’s payout ratio is 48.18%.

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.