Bank of New York Mellon Corp Purchases 126,362 Shares of Target Corporation $TGT

Bank of New York Mellon Corp boosted its position in shares of Target Corporation (NYSE:TGT) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,000,198 shares of the retailer’s stock after acquiring an additional 126,362 shares during the quarter. Bank of New York Mellon Corp’s holdings in Target were worth $363,624,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TGT. WFA of San Diego LLC bought a new position in Target during the second quarter worth about $25,000. Jessup Wealth Management Inc bought a new position in shares of Target during the 4th quarter worth approximately $25,000. Altshuler Shaham Ltd acquired a new position in shares of Target during the 4th quarter worth approximately $26,000. Capital Advisors Ltd. LLC increased its holdings in shares of Target by 245.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer’s stock worth $33,000 after acquiring an additional 194 shares during the last quarter. Finally, Global Wealth Strategies & Associates raised its stake 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 acquiring an additional 192 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Freedom Capital lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Target in a research report on Monday, June 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Target in a report on Monday, May 4th. Barclays restated an “underweight” rating on shares of Target in a research report on Monday, June 1st. Finally, Jefferies Financial Group boosted their target price on shares of Target from $140.00 to $161.00 and gave the company a “buy” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $131.96.

Target Price Performance

Shares of TGT opened at $139.93 on Friday. Target Corporation has a 1 year low of $83.44 and a 1 year high of $144.40. 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 company has a market capitalization of $63.55 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.74 and a beta of 0.98. The business has a 50-day moving average of $129.35 and a 200-day moving average of $120.43.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 20th. The retailer reported $1.71 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 in the prior year, the business posted $1.30 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, equities research analysts anticipate that Target Corporation will post 8.35 earnings per share 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 issued a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. 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 3.3%. Target’s dividend payout ratio (DPR) is presently 60.24%.

Insider Buying and Selling

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the sale, the insider owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

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.