Mattern Capital Management LLC Sells 86,745 Shares of Target Corporation $TGT

Mattern Capital Management LLC reduced its position in shares of Target Corporation (NYSE:TGT) by 98.1% during the first quarter, Holdings Channel reports. The institutional investor owned 1,681 shares of the retailer’s stock after selling 86,745 shares during the period. Mattern Capital Management LLC’s holdings in Target were worth $204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Winning Points Advisors LLC acquired a new position in shares of Target during the fourth quarter worth approximately $611,000. Franklin Resources Inc. grew its position in Target by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock valued at $605,507,000 after purchasing an additional 142,937 shares during the period. Bogart Wealth LLC grew its position in Target by 41.8% in the 1st quarter. Bogart Wealth LLC now owns 111,001 shares of the retailer’s stock valued at $13,453,000 after purchasing an additional 32,746 shares during the period. Munich Reinsurance Co Stock Corp in Munich bought a new stake in Target during the 1st quarter valued at $6,686,000. Finally, Mather Group LLC. increased its stake in Target by 7.5% during the 4th quarter. Mather Group LLC. now owns 155,222 shares of the retailer’s stock valued at $15,173,000 after purchasing an additional 10,839 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Trading Down 0.6%

Shares of Target stock opened at $134.01 on Wednesday. The firm has a market cap of $60.87 billion, a PE ratio of 17.70, a P/E/G ratio of 2.63 and a beta of 0.98. Target Corporation has a 1 year low of $83.44 and a 1 year high of $142.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The stock has a fifty day moving average price of $128.61 and a 200-day moving average price of $119.71.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. The company had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Equities research analysts anticipate that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The business also recently disclosed 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. This is a positive change from Target’s previous quarterly dividend of $1.14. This represents a $4.64 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 12th. Target’s payout ratio is presently 60.24%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TGT shares. DA Davidson upped their price objective on shares of Target from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Jefferies Financial Group lifted their price objective on shares of Target from $140.00 to $161.00 and gave the company a “buy” rating in a report on Friday, June 26th. Argus set a $150.00 target price on shares of Target in a research report on Friday, May 22nd. Evercore set a $130.00 target price on shares of Target in a report on Monday, May 18th. Finally, Barclays reaffirmed an “underweight” rating on shares of Target in a research report on Monday, June 1st. Twelve investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $130.64.

Insiders Place Their Bets

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the transaction, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

Target Company 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.