Target Corporation (TGT) to Issue Quarterly Dividend of $1.16 on September 1st

Target Corporation (NYSE:TGT) announced a quarterly dividend on Thursday, June 11th. Shareholders of record on Wednesday, August 12th will be paid a dividend of 1.16 per share by the retailer on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, August 12th. This is a 1.8% increase from Target’s previous quarterly dividend of $1.14.

Target has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 54 years. Target has a dividend payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Target to earn $8.89 per share next year, which means the company should continue to be able to cover its $4.56 annual dividend with an expected future payout ratio of 51.3%.

Target Stock Performance

Shares of TGT stock opened at $135.29 on Friday. 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 has a fifty-two week low of $83.44 and a fifty-two week high of $136.14. The stock has a 50 day moving average price of $125.42 and a two-hundred day moving average price of $113.50. The company has a market capitalization of $61.45 billion, a P/E ratio of 17.87, a PEG ratio of 2.59 and a beta of 1.00.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The business’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. Analysts expect that Target will post 8.35 earnings per share for the current year.

Insider Buying and Selling at Target

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

Institutional Investors Weigh In On Target

A number of institutional investors have recently modified their holdings of TGT. Vanguard Group Inc. grew its stake in shares of Target by 12.6% in the third quarter. Vanguard Group Inc. now owns 57,925,898 shares of the retailer’s stock worth $5,195,953,000 after acquiring an additional 6,481,560 shares during the last quarter. Norges Bank purchased a new stake in shares of Target in the fourth quarter worth $587,903,000. TOMS Capital Investment Management LP purchased a new stake in shares of Target in the fourth quarter worth $257,571,000. AQR Capital Management LLC grew its stake in shares of Target by 243.8% in the fourth quarter. AQR Capital Management LLC now owns 2,870,210 shares of the retailer’s stock worth $280,563,000 after acquiring an additional 2,035,298 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Target by 6,639.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,912,963 shares of the retailer’s stock worth $186,992,000 after acquiring an additional 1,884,577 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

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.