Wedge Capital Management L L P NC Sells 32,056 Shares of Target Corporation $TGT

Wedge Capital Management L L P NC decreased its holdings in shares of Target Corporation (NYSE:TGT) by 94.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,782 shares of the retailer’s stock after selling 32,056 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Target were worth $233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Winning Points Advisors LLC bought a new position in Target in the fourth quarter valued at approximately $611,000. Franklin Resources Inc. raised its stake in shares of Target by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock worth $605,507,000 after purchasing an additional 142,937 shares in the last quarter. Bogart Wealth LLC raised its stake in shares of Target by 41.8% during the 1st quarter. Bogart Wealth LLC now owns 111,001 shares of the retailer’s stock worth $13,453,000 after purchasing an additional 32,746 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of Target in the 1st quarter valued at approximately $6,686,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Target in the 4th quarter valued at approximately $27,470,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wolfe Research set a $169.00 target price on shares of Target in a research note on Monday, August 3rd. Oppenheimer upped their price target on shares of Target from $140.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada increased their price target on shares of Target from $153.00 to $166.00 and gave the company an “outperform” rating in a research note on Wednesday. Freedom Capital downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Finally, Bank of America restated an “underperform” rating and set a $124.00 price objective (up from $110.00) on shares of Target in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Target currently has a consensus rating of “Hold” and a consensus price target of $143.30.

Target Stock Performance

Shares of NYSE TGT opened at $154.52 on Friday. 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 company has a market capitalization of $70.18 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.51 and a beta of 0.97. Target Corporation has a 12 month low of $83.44 and a 12 month high of $156.47. The stock has a 50 day moving average of $138.02 and a 200-day moving average of $126.14.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The business had revenue of $25.44 billion for the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter in the prior year, the business earned $1.30 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, equities research analysts predict that Target Corporation will post 8.4 EPS for the current year.

Target Increases Dividend

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

Insider Buying and Selling at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the firm’s 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 owned 45,930 shares in the company, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by insiders.

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.