Cullen Capital Management LLC Sells 130,067 Shares of Target Corporation $TGT

Cullen Capital Management LLC reduced its stake in Target Corporation (NYSE:TGT) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 925,442 shares of the retailer’s stock after selling 130,067 shares during the period. Cullen Capital Management LLC’s holdings in Target were worth $90,462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Korea Investment CORP boosted its position in shares of Target by 176.7% in the 4th quarter. Korea Investment CORP now owns 281,928 shares of the retailer’s stock worth $27,558,000 after purchasing an additional 180,039 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Target in the 4th quarter valued at $9,162,000. Asset Allocation Strategies LLC raised its stake in Target by 11.6% during the 4th quarter. Asset Allocation Strategies LLC now owns 2,495 shares of the retailer’s stock worth $244,000 after buying an additional 259 shares during the period. Wealthspire Advisors LLC raised its stake in Target by 32.1% during the 4th quarter. Wealthspire Advisors LLC now owns 8,949 shares of the retailer’s stock worth $875,000 after buying an additional 2,174 shares during the period. Finally, Macquarie Group Ltd. raised its stake in Target by 12.6% during the 4th quarter. Macquarie Group Ltd. now owns 79,245 shares of the retailer’s stock worth $7,746,000 after buying an additional 8,892 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Truist Financial raised their price objective on Target from $123.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, May 20th. BNP Paribas Exane raised their price objective on Target from $63.00 to $88.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 4th. Argus set a $150.00 price objective on Target in a research note on Friday, May 22nd. JPMorgan Chase & Co. raised their price objective on Target from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Target in a research note on Thursday, May 21st. Eleven investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Target has a consensus rating of “Hold” and an average price target of $126.11.

Target Stock Performance

Shares of Target stock opened at $135.29 on Friday. The stock’s fifty day simple moving average is $125.42 and its 200 day simple moving average is $113.50. The company has a market capitalization of $61.45 billion, a PE ratio of 17.87, a PEG ratio of 2.59 and a beta of 1.00. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. Target Corporation has a 12 month low of $83.44 and a 12 month high of $136.14.

Target (NYSE:TGT) last released its earnings results 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 firm 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%.The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, research analysts predict that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. This is a boost from Target’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a yield of 3.4%. Target’s dividend payout ratio is currently 60.24%.

Insider Transactions at Target

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the 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 completion of the transaction, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew A. Liegel sold 2,053 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $117.19, for a total value of $240,591.07. Following the transaction, the chief accounting officer owned 12,143 shares of the company’s stock, valued at approximately $1,423,038.17. This trade represents a 14.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by corporate insiders.

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.