Public Employees Retirement System of Ohio Decreases Holdings in Target Corporation $TGT

Public Employees Retirement System of Ohio reduced its holdings in shares of Target Corporation (NYSE:TGT) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 204,888 shares of the retailer’s stock after selling 10,296 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Target were worth $26,760,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in TGT. Proficio Capital Partners LLC acquired a new stake in shares of Target during the 2nd quarter worth about $1,095,000. Pure Financial Advisors LLC boosted its holdings in Target by 34.5% in the second quarter. Pure Financial Advisors LLC now owns 3,636 shares of the retailer’s stock valued at $475,000 after purchasing an additional 932 shares in the last quarter. Corient Private Wealth LP boosted its holdings in Target by 5,812.0% in the second quarter. Corient Private Wealth LP now owns 527,473 shares of the retailer’s stock valued at $68,893,000 after purchasing an additional 518,551 shares in the last quarter. Bank of America Corp DE increased its stake in Target by 1.8% in the second quarter. Bank of America Corp DE now owns 4,575,880 shares of the retailer’s stock valued at $597,656,000 after purchasing an additional 82,268 shares during the last quarter. Finally, Gallagher Fiduciary Advisors LLC increased its stake in Target by 75.6% in the second quarter. Gallagher Fiduciary Advisors LLC now owns 6,012 shares of the retailer’s stock valued at $785,000 after purchasing an additional 2,589 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity

In related news, CAO Matthew A. Liegel sold 926 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $163.51, for a total value of $151,410.26. Following the transaction, the chief accounting officer owned 12,266 shares in the company, valued at $2,005,613.66. The trade was a 7.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Melissa K. Kremer sold 15,500 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $169.96, for a total value of $2,634,380.00. Following the sale, the insider directly owned 56,981 shares of the company’s stock, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by corporate insiders.

Target Stock Performance

Shares of TGT opened at $163.14 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.36 and a debt-to-equity ratio of 0.80. The firm has a market cap of $74.10 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 3.09 and a beta of 0.97. The company’s 50 day simple moving average is $144.21 and its 200-day simple moving average is $129.86. Target Corporation has a 12-month low of $83.44 and a 12-month high of $170.75.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, beating the consensus estimate of $2.35 by $1.76. The firm had revenue of $26.54 billion during the quarter, compared to the consensus estimate of $26.13 billion. Target had a net margin of 4.08% and a return on equity of 23.23%. Target’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, equities analysts predict that Target Corporation will post 8.84 EPS for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This is a positive change from Target’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.8%. Target’s dividend payout ratio is currently 48.18%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. KeyCorp restated a “sector weight” rating on shares of Target in a research report on Thursday, August 20th. Wall Street Zen upgraded shares of Target from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Royal Bank Of Canada boosted their price target on shares of Target from $166.00 to $178.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. Piper Sandler upped their price objective on shares of Target from $146.00 to $153.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. Finally, Wells Fargo & Company raised their price objective on Target from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $159.52.

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.