Target (NYSE:TGT) Reaches New 52-Week High Following Dividend Announcement

Target Corporation (NYSE:TGT) shares reached a new 52-week high on Friday after the company announced a dividend. The stock traded as high as $135.91 and last traded at $134.8930, with a volume of 430322 shares traded. The stock had previously closed at $132.64.

The newly announced dividend which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, August 12th. This is a positive change from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio (DPR) is 60.24%.

Analyst Upgrades and Downgrades

TGT has been the subject of a number of recent research reports. DA Davidson boosted their target price on shares of Target from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Roth Mkm reaffirmed a “neutral” rating and set a $114.00 price target on shares of Target in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of Target from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Barclays reissued an “underweight” rating on shares of Target in a report on Monday, June 1st. Finally, Argus set a $150.00 target price on shares of Target in a report on Friday, May 22nd. Eleven analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Target currently has a consensus rating of “Hold” and an average target price of $126.11.

Target Stock Performance

The stock has a 50 day moving average of $125.12 and a 200 day moving average of $113.34. 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 firm has a market cap of $61.51 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 2.50 and a beta of 1.00.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate 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 quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, analysts anticipate that Target Corporation will post 8.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the sale, the insider directly owned 45,930 shares of the company’s stock, valued at $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Matthew A. Liegel sold 2,053 shares of Target stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total value of $240,591.07. Following the completion of the transaction, the chief accounting officer owned 12,143 shares in the company, valued at approximately $1,423,038.17. This represents a 14.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Target

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. WFA of San Diego LLC bought a new stake in shares of Target during the second quarter worth $25,000. Jessup Wealth Management Inc acquired a new stake in shares of Target during the 4th quarter valued at $25,000. Altshuler Shaham Ltd bought a new stake in Target during the 4th quarter worth $26,000. Global Wealth Strategies & Associates increased its holdings in Target by 192.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock worth $29,000 after purchasing an additional 192 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Target in the fourth quarter valued at about $30,000. 79.73% of the stock is owned by institutional investors.

Target Company 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.