Target Corporation $TGT Stock Position Reduced by Palisade Asset Management LLC

Palisade Asset Management LLC lowered its holdings in shares of Target Corporation (NYSE:TGT) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,503 shares of the retailer’s stock after selling 4,227 shares during the period. Target makes up 2.2% of Palisade Asset Management LLC’s holdings, making the stock its 10th largest position. Palisade Asset Management LLC’s holdings in Target were worth $23,112,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TGT. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Target during the third quarter valued at $25,000. Richardson Financial Services Inc. bought a new stake in shares of Target during the second quarter valued at about $26,000. Kimelman & Baird LLC bought a new stake in shares of Target during the second quarter valued at about $26,000. Putney Financial Group LLC acquired a new stake in Target in the third quarter worth about $28,000. Finally, Archer Investment Corp acquired a new stake in Target in the second quarter worth about $30,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Up 0.1%

Shares of NYSE:TGT opened at $158.16 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99. The stock has a market capitalization of $71.85 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.93 and a beta of 0.94. Target Corporation has a 1-year low of $83.44 and a 1-year high of $170.75. The company has a 50 day moving average price of $156.41 and a 200 day moving average price of $135.02.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned $2.05 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. On average, research analysts anticipate that Target Corporation will post 8.91 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Wednesday, November 11th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, November 10th. Target’s payout ratio is presently 48.18%.

Insiders Place Their Bets

In other news, CAO Matthew Liegel sold 926 shares of the business’s stock in a transaction 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 sale, the chief accounting officer directly owned 12,266 shares of the company’s stock, valued at $2,005,613.66. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Melissa Kremer sold 15,500 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $169.96, for a total value of $2,634,380.00. Following 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 disclosure for this sale is available in the SEC filing. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TGT shares. Roth Capital reiterated a “neutral” rating and issued a $142.00 target price (up from $114.00) on shares of Target in a research report on Thursday, August 20th. UBS Group boosted their price target on shares of Target from $166.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. JPMorgan Chase & Co. boosted their price target on shares of Target from $129.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price target (up from $145.00) on shares of Target in a research note on Thursday, August 20th. Finally, Bank of America reiterated an “underperform” rating and issued a $124.00 price objective (up from $110.00) on shares of Target in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $161.50.

About Target

Target Corporation is a U.S. general merchandise retailer that sells products through its stores and digital channels. Its assortment includes apparel and accessories, beauty products, home goods, groceries, electronics, toys, and household essentials, along with merchandise from national brands and Target-owned brands.

The company also offers services such as in-store and curbside order pickup and same-day delivery in eligible areas. Target serves customers across the United States.

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