State Street Corp Has $3.69 Billion Stake in Target Corporation $TGT

State Street Corp grew its holdings in Target Corporation (NYSE:TGT) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 37,772,533 shares of the retailer’s stock after acquiring an additional 124,468 shares during the period. State Street Corp owned about 0.08% of Target worth $3,692,265,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. First Trust Advisors LP lifted its holdings in shares of Target by 10.9% during the third quarter. First Trust Advisors LP now owns 1,267,577 shares of the retailer’s stock worth $113,702,000 after buying an additional 124,371 shares in the last quarter. Winning Points Advisors LLC acquired a new stake in shares of Target during the fourth quarter worth $611,000. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Target by 15.4% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 342,487 shares of the retailer’s stock worth $30,721,000 after buying an additional 45,803 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Target by 7.5% during the fourth quarter. Mather Group LLC. now owns 155,222 shares of the retailer’s stock worth $15,173,000 after buying an additional 10,839 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Target by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock worth $605,507,000 after buying an additional 142,937 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TGT. Argus set a $150.00 target price on Target in a report on Friday, May 22nd. Piper Sandler reissued a “neutral” rating on shares of Target in a report on Friday. Mizuho set a $120.00 target price on Target in a report on Thursday, March 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Target in a report on Monday, May 4th. Finally, BMO Capital Markets lifted their price objective on Target from $105.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, March 4th. Eleven research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Target currently has an average rating of “Hold” and an average target price of $126.11.

Insiders Place Their Bets

In related news, CAO Matthew A. Liegel sold 2,053 shares of the business’s stock in a transaction on 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 owned 12,143 shares in the company, valued at $1,423,038.17. The trade was a 14.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Cara A. Sylvester sold 10,000 shares of the business’s stock in a transaction on 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 owned 45,930 shares in the company, valued at $5,782,127.70. This represents a 17.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.13% of the company’s stock.

Target Price Performance

Target stock opened at $135.29 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. Target Corporation has a 52 week low of $83.44 and a 52 week high of $136.14. The stock has a market capitalization of $61.45 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 2.59 and a beta of 1.00. The stock has a fifty day moving average of $125.42 and a 200-day moving average of $113.50.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, topping 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 company had revenue of $25.44 billion during the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter in the previous year, the firm earned $1.30 EPS. Target’s revenue was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, sell-side analysts expect that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be given a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a yield of 3.4%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is presently 60.24%.

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.