Summitry LLC Sells 59,019 Shares of Target Corporation $TGT

Summitry LLC trimmed its position in shares of Target Corporation (NYSE:TGT) by 96.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,087 shares of the retailer’s stock after selling 59,019 shares during the quarter. Summitry LLC’s holdings in Target were worth $204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP raised its holdings in Target by 10.9% in the 3rd quarter. First Trust Advisors LP now owns 1,267,577 shares of the retailer’s stock worth $113,702,000 after purchasing an additional 124,371 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Target by 15.4% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 342,487 shares of the retailer’s stock worth $30,721,000 after purchasing an additional 45,803 shares during the period. Retirement Systems of Alabama bought a new position in Target in the 3rd quarter worth $8,694,000. Mather Group LLC. raised its holdings in Target by 7.5% in the 4th quarter. Mather Group LLC. now owns 155,222 shares of the retailer’s stock worth $15,173,000 after purchasing an additional 10,839 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Target by 3.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 513,123 shares of the retailer’s stock worth $46,027,000 after purchasing an additional 18,777 shares during the period. 79.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TGT. JPMorgan Chase & Co. raised their target price on Target from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Oppenheimer raised their target price on Target from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, March 4th. Wells Fargo & Company raised their target price on Target from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Robert W. Baird raised their target price on Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 21st. Finally, Guggenheim reaffirmed a “buy” rating and issued a $140.00 target price on shares of Target in a report on Wednesday, May 20th. Eleven analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $125.93.

Target Price Performance

NYSE:TGT opened at $125.16 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The business’s 50-day simple moving average is $122.85 and its two-hundred day simple moving average is $110.22. The stock has a market cap of $56.85 billion, a PE ratio of 16.53, a P/E/G ratio of 2.45 and a beta of 1.01. Target Corporation has a 52 week low of $83.44 and a 52 week high of $133.10.

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

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 13th will be issued a dividend of $1.14 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $4.56 dividend on an annualized basis and a yield of 3.6%. Target’s dividend payout ratio (DPR) is currently 60.24%.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 2,053 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $117.19, for a total transaction of $240,591.07. Following the sale, the chief accounting officer directly owned 12,143 shares of the company’s stock, valued at $1,423,038.17. This trade represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.