NewEdge Advisors LLC Reduces Position in Target Corporation $TGT

NewEdge Advisors LLC decreased its holdings in Target Corporation (NYSE:TGT) by 82.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,666 shares of the retailer’s stock after selling 63,636 shares during the period. NewEdge Advisors LLC’s holdings in Target were worth $1,656,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Target in the fourth quarter valued at approximately $587,903,000. TOMS Capital Investment Management LP acquired a new stake in shares of Target in the fourth quarter valued at approximately $257,571,000. AQR Capital Management LLC lifted its position in Target by 243.8% during the fourth quarter. AQR Capital Management LLC now owns 2,870,210 shares of the retailer’s stock worth $280,563,000 after buying an additional 2,035,298 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Target by 6,639.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,912,963 shares of the retailer’s stock worth $186,992,000 after buying an additional 1,884,577 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Target by 104.7% during the fourth quarter. Marshall Wace LLP now owns 65,505 shares of the retailer’s stock worth $6,403,000 after buying an additional 1,448,146 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of Target stock opened at $154.52 on Friday. The firm has a market cap of $70.18 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.51 and a beta of 0.97. 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 Corporation has a 52 week low of $83.44 and a 52 week high of $156.47. The business’s fifty day simple moving average is $138.02 and its 200-day simple moving average is $126.14.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.24. The firm had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the company earned $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Equities analysts forecast that Target Corporation will post 8.4 earnings per share for the current year.

Target Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.0%. This is a boost from Target’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Wednesday, August 12th. Target’s payout ratio is 61.29%.

Insider Buying and Selling at Target

In other Target news, insider Cara A. Sylvester sold 10,000 shares of Target stock in a transaction dated 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 completion of the sale, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on TGT. Royal Bank Of Canada lifted their price target on Target from $153.00 to $166.00 and gave the stock an “outperform” rating in a report on Wednesday. Roth Capital restated a “neutral” rating and set a $114.00 price objective on shares of Target in a research report on Friday, May 22nd. Argus set a $150.00 target price on shares of Target in a research note on Friday, May 22nd. UBS Group lifted their target price on shares of Target from $144.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Target from $129.00 to $157.00 and gave the company a “neutral” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $143.30.

About Target

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.