Palisade Asset Management LLC Sells 4,227 Shares of Target Corporation $TGT

Palisade Asset Management LLC lessened its position in Target Corporation (NYSE:TGT) by 2.8% in the 3rd quarter, Holdings Channel reports. The fund owned 147,503 shares of the retailer’s stock after selling 4,227 shares during the period. Target makes up approximately 2.2% of Palisade Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding. Palisade Asset Management LLC’s holdings in Target were worth $23,112,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Pension & Wealth Management Advisors Inc. purchased a new position in Target during the 3rd quarter worth approximately $25,000. Richardson Financial Services Inc. acquired a new stake in Target during the 2nd quarter valued at $26,000. Kimelman & Baird LLC acquired a new stake in Target during the 2nd quarter valued at $26,000. Putney Financial Group LLC acquired a new stake in Target during the 3rd quarter valued at $28,000. Finally, Archer Investment Corp purchased a new stake in shares of Target in the second quarter valued at $30,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $158.16 on Friday. The company has a market capitalization of $71.85 billion, a PE ratio of 16.42, a PEG ratio of 2.93 and a beta of 0.94. 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 company’s 50 day moving average price is $156.41 and its 200 day moving average price is $135.02. Target Corporation has a 52 week low of $83.44 and a 52 week high of $170.75.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $1.76. Target had a net margin of 4.08% and a return on equity of 23.23%. The company had revenue of $26.54 billion during the quarter, compared to the consensus estimate of $26.13 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The company’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 expect that Target Corporation will post 8.91 EPS for the current fiscal year.

Target Dividend Announcement

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

Insider Buying and Selling at Target

In other news, CAO Matthew Liegel sold 926 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $163.51, for a total value of $151,410.26. Following the transaction, the chief accounting officer directly owned 12,266 shares of the company’s stock, valued at approximately $2,005,613.66. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Melissa Kremer sold 15,500 shares of the company’s stock in a transaction 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 directly owned 56,981 shares in the company, valued at $9,684,490.76. This trade represents a 21.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

TGT has been the subject of several recent analyst reports. BNP Paribas Exane raised their target price on Target from $92.00 to $128.00 and gave the stock an “underperform” rating in a research report on Thursday, August 20th. DA Davidson lifted their price target on Target from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Truist Financial upped their price target on Target from $147.00 to $167.00 and gave the company a “hold” rating in a research report on Thursday, August 20th. BMO Capital Markets increased their price objective on Target from $150.00 to $160.00 and gave the stock a “market perform” rating in a research note on Thursday, August 20th. Finally, Roth Capital restated a “neutral” rating and set a $142.00 price objective (up from $114.00) on shares of Target in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $161.50.

Target Company Profile

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.