Sumitomo Mitsui Trust Group Inc. Acquires 48,298 Shares of Target Corporation $TGT

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Target Corporation (NYSE:TGT) by 4.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,208,675 shares of the retailer’s stock after purchasing an additional 48,298 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Target were worth $189,387,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Target during the third quarter worth approximately $93,103,000. Aviance Capital Partners LLC boosted its stake in Target by 38.8% during the 3rd quarter. Aviance Capital Partners LLC now owns 3,694 shares of the retailer’s stock valued at $579,000 after purchasing an additional 1,032 shares in the last quarter. Vise Technologies Inc. bought a new position in Target during the 3rd quarter valued at $5,850,000. Intrua Financial LLC bought a new position in Target during the 3rd quarter valued at $210,000. Finally, Moss Adams Wealth Advisors LLC acquired a new position in shares of Target during the 3rd quarter valued at $322,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Transactions at Target

In related news, CAO Matthew A. Liegel sold 926 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $163.51, for a total transaction of $151,410.26. Following the completion of the sale, the chief accounting officer directly owned 12,266 shares in the company, valued at approximately $2,005,613.66. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Melissa K. Kremer sold 15,500 shares of the business’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 transaction of $2,634,380.00. Following the transaction, the insider directly owned 56,981 shares in the company, valued at $9,684,490.76. The trade was a 21.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.13% of the company’s stock.

Target Price Performance

Shares of NYSE:TGT opened at $153.70 on Monday. The company’s fifty day moving average is $157.12 and its two-hundred day moving average is $133.81. The company has a market cap of $69.83 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. Target Corporation has a 12-month low of $83.44 and a 12-month high of $170.75. The company has a quick ratio of 0.36, a current ratio of 0.99 and a debt-to-equity ratio of 0.80.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 19th. The retailer reported $4.11 EPS for the quarter, topping the consensus estimate of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%. The business had revenue of $26.54 billion during the quarter, compared to analysts’ expectations of $26.13 billion. During the same quarter last year, the firm posted $2.05 earnings per share. Target’s revenue was up 5.3% compared to the same quarter last year. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Equities analysts expect that Target Corporation will post 8.89 earnings per share for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 11th will be given a dividend of $1.16 per share. The ex-dividend date is Tuesday, November 10th. This represents a $4.64 dividend on an annualized basis and a yield of 3.0%. Target’s dividend payout ratio (DPR) is presently 48.18%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Bank of America restated an “underperform” rating and issued a $124.00 price objective (up from $110.00) on shares of Target in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft set a $150.00 price target on shares of Target in a research report on Thursday, August 20th. Robert W. Baird set a $170.00 price objective on shares of Target in a research report on Thursday, August 20th. Barclays lifted their price objective on shares of Target from $115.00 to $140.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 19th. Finally, TD Cowen initiated coverage on shares of Target in a report on Friday. They issued a “hold” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $159.33.

About Target

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping platforms under the Target name. The company sells a broad assortment of products, including apparel and accessories, beauty and household essentials, electronics, toys, groceries, home furnishings, and seasonal merchandise.

Target also offers services designed to support omnichannel shopping, including order pickup, Drive Up, same-day delivery, and shipping through its digital channels.