Cullen Capital Management LLC Sells 17,777 Shares of Target Corporation $TGT

Cullen Capital Management LLC decreased its holdings in Target Corporation (NYSE:TGT) by 1.6% in the second quarter, HoldingsChannel.com reports. The fund owned 1,116,467 shares of the retailer’s stock after selling 17,777 shares during the period. Cullen Capital Management LLC’s holdings in Target were worth $145,822,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Target in the 2nd quarter worth about $5,054,604,000. Bank of New York Mellon Corp purchased a new position in shares of Target during the second quarter valued at about $831,466,000. Norges Bank bought a new position in Target in the fourth quarter worth about $587,903,000. TOMS Capital Investment Management LP bought a new position in Target in the fourth quarter worth about $257,571,000. Finally, AQR Capital Management LLC lifted its holdings in 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 buying an additional 2,035,298 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 2.7%

Target stock opened at $169.96 on Tuesday. 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 business’s fifty day simple moving average is $141.55 and its two-hundred day simple moving average is $128.55. Target Corporation has a 12 month low of $83.44 and a 12 month high of $170.75. The company has a market capitalization of $77.20 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 3.34 and a beta of 0.96.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, beating the consensus estimate of $2.35 by $1.76. The firm had revenue of $26.54 billion during the quarter, compared to the consensus estimate of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%.The company’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, equities analysts predict that Target Corporation will post 8.84 earnings per share for the current fiscal 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 dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a yield of 2.7%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio (DPR) is 48.18%.

Insider Transactions at Target

In other news, CAO Matthew A. Liegel sold 926 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer owned 12,266 shares in the company, valued at approximately $2,005,613.66. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the sale, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. The trade was a 17.88% decrease in their position. The SEC filing for this sale provides additional information. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on TGT shares. TD Cowen upped their target price 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. lifted their price target on Target from $129.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Bank of America reaffirmed an “underperform” rating and issued a $124.00 price target (up from $110.00) on shares of Target in a research note on Wednesday, August 12th. Wall Street Zen upgraded Target from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Robert W. Baird set a $170.00 price objective on Target in a research report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $159.52.

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.