Sumitomo Mitsui Trust Group Inc. Trims Position in Target Corporation $TGT

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Target Corporation (NYSE:TGT) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,232,234 shares of the retailer’s stock after selling 119,341 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Target worth $149,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of TGT. Vanguard Group Inc. boosted its position in Target by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock worth $5,690,262,000 after purchasing an additional 286,499 shares in the last quarter. State Street Corp increased its holdings in shares of Target by 0.3% during the 4th quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock valued at $3,692,265,000 after purchasing an additional 124,468 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Target by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock valued at $1,668,194,000 after purchasing an additional 561,898 shares during the period. Franklin Resources Inc. lifted its stake in shares of Target by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock valued at $605,507,000 after purchasing an additional 142,937 shares during the period. Finally, Norges Bank purchased a new stake in Target during the fourth quarter worth $587,903,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Cara A. Sylvester sold 10,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the completion of the transaction, the insider directly owned 45,930 shares of the company’s stock, valued at $5,782,127.70. The trade was a 17.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TGT has been the topic of several analyst reports. Evercore set a $130.00 price target on shares of Target in a research report on Monday, May 18th. Wall Street Zen upgraded Target from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Wells Fargo & Company increased their target price on shares of Target from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. KeyCorp reaffirmed a “sector weight” rating on shares of Target in a report on Thursday, May 21st. Finally, Guggenheim raised their price objective on shares of Target from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Twelve equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Target presently has an average rating of “Hold” and an average target price of $130.64.

Target Price Performance

TGT stock opened at $132.11 on Friday. The company has a market capitalization of $60.00 billion, a PE ratio of 17.45, a P/E/G ratio of 2.59 and a beta of 0.98. Target Corporation has a 12-month low of $83.44 and a 12-month high of $142.82. The company has a current ratio of 0.93, a quick ratio of 0.30 and a debt-to-equity ratio of 0.87. The business’s fifty day moving average price is $128.26 and its 200 day moving average price is $118.87.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.47 by $0.24. The business had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, sell-side analysts anticipate that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The business 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. This represents a $4.64 dividend on an annualized basis and a yield of 3.5%. This is a boost from Target’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. Target’s dividend payout ratio (DPR) is 60.24%.

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.