Target (NYSE:TGT) Insider Melissa Kremer Sells 15,500 Shares

Target Corporation (NYSE:TGT) insider Melissa Kremer sold 15,500 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the completion of the transaction, the insider owned 56,981 shares in the company, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Target Stock Up 0.2%

Shares of NYSE TGT opened at $163.85 on Thursday. The firm has a market cap of $74.42 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 3.03 and a beta of 0.97. The company has a quick ratio of 0.36, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. Target Corporation has a 52-week low of $83.44 and a 52-week high of $170.75. The business’s 50 day moving average is $142.87 and its two-hundred day moving average is $129.27.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%.The company had revenue of $26.54 billion for the quarter, compared to analysts’ expectations of $26.13 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Research analysts predict that Target Corporation will post 8.88 EPS for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is currently 48.18%.

Analysts Set New Price Targets

TGT has been the subject of several research reports. Wells Fargo & Company lifted their target price on Target from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Piper Sandler increased their price target on shares of Target from $146.00 to $153.00 and gave the stock a “neutral” rating in a research report on Thursday, August 20th. TD Cowen increased their price target on shares of Target from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Thursday, August 20th. Guggenheim raised their price objective on shares of Target from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Robert W. Baird set a $170.00 price objective on shares of Target in a report on Thursday, August 20th. Eleven research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Target presently has an average rating of “Hold” and an average target price of $159.52.

Institutional Trading of Target

Several hedge funds have recently added to or reduced their stakes in TGT. HighTower Advisors LLC raised its holdings in shares of Target by 18.4% in the 2nd quarter. HighTower Advisors LLC now owns 586,282 shares of the retailer’s stock valued at $76,574,000 after purchasing an additional 91,260 shares in the last quarter. Groupe la Francaise purchased a new position in Target in the second quarter valued at $448,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Target in the second quarter valued at $31,229,000. California State Teachers Retirement System raised its stake in Target by 13,417.6% in the second quarter. California State Teachers Retirement System now owns 91,340,014 shares of the retailer’s stock valued at $11,929,919,000 after buying an additional 90,664,304 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in Target by 37.0% during the 2nd quarter. Wedmont Private Capital now owns 4,443 shares of the retailer’s stock worth $600,000 after buying an additional 1,201 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

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.