First National Bank of Omaha Acquires Shares of 26,800 Target Corporation $TGT

First National Bank of Omaha bought a new position in Target Corporation (NYSE:TGT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,800 shares of the retailer’s stock, valued at approximately $3,535,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WFA of San Diego LLC acquired a new position in shares of Target during the 2nd quarter valued at about $25,000. Jessup Wealth Management Inc bought a new stake in shares of Target during the fourth quarter worth $25,000. Altshuler Shaham Ltd bought a new position in Target in the fourth quarter valued at approximately $26,000. MidFirst Bank acquired a new position in Target during the fourth quarter valued at approximately $31,000. Finally, Capital Advisors Ltd. LLC increased its stake in 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 purchasing an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

More Target News

Here are the key news stories impacting Target this week:

• Positive Sentiment: DA Davidson raised its price target on Target from $155 to $170 and reiterated a “buy” rating, implying additional upside from recent trading levels. Target price target raised by DA Davidson
• Positive Sentiment: Analysts are highlighting Target’s dividend appeal, which may support demand from income-oriented investors while the stock trades at a valuation below some retail peers. Why Target is a great dividend stock right now
• Neutral Sentiment: Target is scheduled to report second-quarter earnings before the market opens on Wednesday, August 19, followed by a 7:00 a.m. conference call. The event is the immediate catalyst for the stock and could produce significant volatility. Target second-quarter earnings conference call
• Neutral Sentiment: Pre-earnings coverage points to rising estimates, improving merchandising and the possibility of another earnings beat. Investors will focus on sales trends, margins, costs and management’s outlook, particularly because tough year-over-year comparisons could limit gains. Target pre-second-quarter earnings preview
• Negative Sentiment: A review of Target’s five-year performance underscores longer-term concerns: the stock has substantially lagged other major U.S. retailers, raising questions about its competitive position and sustainable growth prospects. Target’s stock down 40 percent in five years

Target Price Performance

TGT opened at $152.63 on Wednesday. The company has a market capitalization of $69.32 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.51 and a beta of 0.96. The firm has a 50-day moving average price of $139.08 and a 200-day moving average price of $126.98. Target Corporation has a twelve month low of $83.44 and a twelve month high of $156.47. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. The firm had revenue of $25.44 billion for 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 in the prior year, the firm earned $1.30 EPS. Equities analysts expect that Target Corporation will post 8.43 EPS for the current year.

Target Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a yield of 3.0%. This is a boost from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio (DPR) is presently 61.29%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Robert W. Baird upped their price objective on Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. KeyCorp reiterated a “sector weight” rating on shares of Target in a research note on Thursday, May 21st. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Target in a report on Thursday, June 11th. Piper Sandler raised their target price on shares of Target from $127.00 to $146.00 and gave the company a “neutral” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $140.00 target price on shares of Target in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $143.85.

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.