Target Corporation $TGT Stake Lessened by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC reduced its stake in Target Corporation (NYSE:TGT) by 13.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,511 shares of the retailer’s stock after selling 5,188 shares during the period. Kestra Private Wealth Services LLC’s holdings in Target were worth $5,251,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Target in the 2nd quarter worth approximately $5,054,604,000. Bank of New York Mellon Corp purchased a new stake in Target in the second quarter worth $831,466,000. Dimensional Fund Advisors LP grew its stake in Target by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,413,840 shares of the retailer’s stock worth $656,091,000 after purchasing an additional 411,608 shares during the period. Bank of America Corp DE grew its stake in Target by 1.8% in the second quarter. Bank of America Corp DE now owns 4,575,880 shares of the retailer’s stock worth $597,656,000 after purchasing an additional 82,268 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Target by 12.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,514,522 shares of the retailer’s stock worth $589,642,000 after purchasing an additional 514,155 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Gordon Haskett lowered their price objective on Target from $200.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Bank of America reaffirmed an “underperform” rating and issued a $124.00 target price (up from $110.00) on shares of Target in a research report on Wednesday, August 12th. Oppenheimer raised shares of Target from a “hold” rating to a “buy” rating and upped their target price for the stock from $125.00 to $190.00 in a research report on Wednesday, September 30th. KeyCorp reiterated a “sector weight” rating on shares of Target in a research note on Thursday, August 20th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $161.00 price target (up from $127.00) on shares of Target in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Target presently has an average rating of “Hold” and an average target price of $161.50.

Target Stock Down 3.2%

Shares of NYSE:TGT opened at $157.86 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80. The stock has a fifty day simple moving average of $156.56 and a two-hundred day simple moving average of $134.78. Target Corporation has a 12-month low of $83.44 and a 12-month high of $170.75. The stock has a market capitalization of $71.72 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 3.02 and a beta of 0.94.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS 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 firm had revenue of $26.54 billion for the quarter, compared to analysts’ expectations of $26.13 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, research analysts anticipate that Target Corporation will post 8.91 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 11th will be paid a $1.16 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $4.64 dividend on an annualized basis and a yield of 2.9%. Target’s payout ratio is presently 48.18%.

Insider Activity

In other Target news, CAO Matthew A. Liegel sold 926 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the completion of the sale, the chief accounting officer directly owned 12,266 shares in the company, valued at approximately $2,005,613.66. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Melissa K. Kremer sold 15,500 shares of Target stock in a transaction dated 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 completion of the transaction, the insider directly owned 56,981 shares of the company’s stock, valued at $9,684,490.76. This trade represents a 21.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company’s stock.

Target Company Profile

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping platforms under the Target name. The company sells a broad assortment of products, including apparel and accessories, beauty and household essentials, electronics, toys, groceries, home furnishings, and seasonal merchandise.

Target also offers services designed to support omnichannel shopping, including order pickup, Drive Up, same-day delivery, and shipping through its digital channels.