State Street Corp Lowers Stock Holdings in Target Corporation $TGT

State Street Corp reduced its position in Target Corporation (NYSE:TGT) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 36,049,727 shares of the retailer’s stock after selling 1,439,429 shares during the quarter. State Street Corp owned about 0.08% of Target worth $4,708,455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Target in the second quarter valued at approximately $5,054,604,000. Bank of New York Mellon Corp purchased a new stake in shares of Target during the second quarter worth $831,466,000. Dimensional Fund Advisors LP raised its stake in shares of Target by 8.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,413,840 shares of the retailer’s stock valued at $656,091,000 after acquiring an additional 411,608 shares in the last quarter. Franklin Resources Inc. grew its stake in Target by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock worth $605,507,000 after purchasing an additional 142,937 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Target by 1.8% during the 2nd quarter. Bank of America Corp DE now owns 4,575,880 shares of the retailer’s stock worth $597,656,000 after purchasing an additional 82,268 shares during the period. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Melissa K. Kremer sold 15,500 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $169.96, for a total value of $2,634,380.00. Following the completion of the sale, the insider directly owned 56,981 shares of the company’s stock, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew A. Liegel sold 926 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $163.51, for a total transaction 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 trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.13% of the company’s stock.

Target Stock Up 1.1%

Shares of Target stock traded up $1.70 during trading hours on Tuesday, hitting $159.41. The company had a trading volume of 772,646 shares, compared to its average volume of 5,250,905. The company’s 50-day moving average is $152.76 and its two-hundred day moving average is $134.98. Target Corporation has a twelve month low of $83.44 and a twelve month high of $170.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.36. The company has a market cap of $72.42 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 2.94 and a beta of 0.99.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, topping the consensus estimate of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The firm had revenue of $26.54 billion for the quarter, compared to analyst estimates of $26.13 billion. During the same period last year, the business earned $2.05 EPS. Target’s revenue for the quarter was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Analysts anticipate that Target Corporation will post 8.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen raised Target from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 5th. Piper Sandler lifted their price objective 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. Deutsche Bank Aktiengesellschaft set a $150.00 target price on shares of Target in a research note on Thursday, August 20th. Zacks Research cut Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Finally, Robert W. Baird set a $170.00 price target on Target in a report on Thursday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Target has an average rating of “Hold” and a consensus price target of $159.52.

About Target

Target Corporation is a general merchandise retailer that operates stores and digital shopping channels across the United States. Its assortment includes apparel and accessories, beauty products, home furnishings and décor, electronics, toys, sporting goods, household essentials, groceries and other everyday merchandise.

Target offers a combination of in-store and digital services, including order pickup, Drive Up and same-day delivery through Shipt. The company also develops and sells a broad portfolio of owned brands, while offering national-brand products and merchandise through a range of seasonal and specialty categories.

The company traces its history to the Dayton Company, founded in Minneapolis in 1902.