Formidable Asset Management LLC Lowers Holdings in Target Corporation $TGT

Formidable Asset Management LLC trimmed its holdings in Target Corporation (NYSE:TGT) by 45.3% in the 1st quarter, HoldingsChannel reports. The fund owned 4,827 shares of the retailer’s stock after selling 3,993 shares during the quarter. Formidable Asset Management LLC’s holdings in Target were worth $585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. WFA of San Diego LLC purchased a new stake in shares of Target in the 2nd quarter valued at approximately $25,000. Jessup Wealth Management Inc purchased a new position in shares of Target during the 4th quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new position in shares of Target during the 4th quarter worth approximately $26,000. Global Wealth Strategies & Associates increased its holdings in Target by 192.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in Target in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Jefferies Financial Group boosted their target price on Target from $140.00 to $161.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on Target from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. DA Davidson lifted their price objective on Target from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Sanford C. Bernstein reiterated a “market perform” rating on shares of Target in a report on Monday, June 15th. Finally, KeyCorp reissued a “sector weight” rating on shares of Target in a research note on Thursday, May 21st. Twelve analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $130.64.

Insider Activity

In other news, insider Cara A. Sylvester sold 10,000 shares of Target stock in a transaction dated 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 completion of the transaction, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Target Stock Performance

NYSE:TGT opened at $133.81 on Tuesday. Target Corporation has a 52 week low of $83.44 and a 52 week high of $142.82. The company has a fifty day simple moving average of $128.20 and a two-hundred day simple moving average of $117.04. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The company has a market cap of $60.78 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 2.74 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 (EPS) 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 business had revenue of $25.44 billion for the quarter, compared to analysts’ expectations of $24.66 billion. During the same period last year, the firm earned $1.30 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, equities analysts anticipate that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be given a $1.16 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a yield of 3.5%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is 61.29%.

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.