Target Corporation $TGT Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in shares of Target Corporation (NYSE:TGT) by 4.1% in the third quarter, HoldingsChannel.com reports. The fund owned 271,433 shares of the retailer’s stock after acquiring an additional 10,735 shares during the period. Fifth Third Bancorp’s holdings in Target were worth $42,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Saudi Central Bank grew its position in Target by 89.7% during the second quarter. Saudi Central Bank now owns 31,700 shares of the retailer’s stock valued at $4,140,000 after buying an additional 14,986 shares during the period. Nicholas Investment Partners LP increased its holdings in Target by 204.3% during the second quarter. Nicholas Investment Partners LP now owns 55,154 shares of the retailer’s stock worth $7,204,000 after buying an additional 37,030 shares during the last quarter. Engineers Gate Manager LP increased its holdings in Target by 4,119.2% during the second quarter. Engineers Gate Manager LP now owns 372,558 shares of the retailer’s stock worth $48,660,000 after buying an additional 363,728 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in Target during the second quarter worth about $833,000. Finally, Neumann Capital Management LLC bought a new stake in Target in the third quarter worth about $2,457,000. 79.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in 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 note on Thursday, August 20th. Wolfe Research set a $169.00 target price on shares of Target in a research report on Monday, August 3rd. Piper Sandler raised their price target on shares of Target from $146.00 to $153.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. Mizuho set a $150.00 price target on shares of Target and gave the stock a “neutral” rating in a report on Thursday, August 20th. Finally, Wells Fargo & Company upped their price objective on Target from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $162.37.

Insider Activity at Target

In related news, CAO Matthew A. Liegel sold 926 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were 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 in the company, valued at approximately $2,005,613.66. This represents a 7.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Melissa K. Kremer sold 15,500 shares of the firm’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 directly owned 56,981 shares of the company’s stock, valued at approximately $9,684,490.76. This trade represents a 21.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.13% of the company’s stock.

Target Trading Down 1.1%

Shares of TGT opened at $160.91 on Friday. The business has a 50-day moving average of $156.41 and a 200 day moving average of $136.16. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $170.75. The firm has a market cap of $73.10 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 2.90 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.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $1.76. The business had revenue of $26.54 billion for the quarter, compared to analysts’ expectations of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 EPS. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, research analysts forecast that Target Corporation will post 8.91 EPS for the current year.

Target Announces Dividend

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

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.