Peloton Wealth Strategists Reduces Stock Position in Target Corporation $TGT

Peloton Wealth Strategists trimmed its holdings in Target Corporation (NYSE:TGT) by 14.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,687 shares of the retailer’s stock after selling 3,860 shares during the period. Peloton Wealth Strategists’ holdings in Target were worth $2,218,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Target by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock worth $5,690,262,000 after buying an additional 286,499 shares during the last quarter. State Street Corp raised its holdings in Target by 0.3% in the fourth quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock valued at $3,692,265,000 after acquiring an additional 124,468 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Target by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock valued at $1,668,194,000 after acquiring an additional 561,898 shares during the last quarter. Franklin Resources Inc. boosted its stake in Target by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock valued at $605,507,000 after acquiring an additional 142,937 shares during the last quarter. Finally, Norges Bank acquired a new position in Target during the 4th quarter worth $587,903,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TGT shares. Argus set a $150.00 target price on shares of Target in a research note on Friday, May 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Target in a research note on Monday, May 4th. Robert W. Baird boosted their price objective on Target from $125.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. UBS Group upped their price objective on Target from $130.00 to $144.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Target in a report on Thursday, May 21st. Eleven research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Target has a consensus rating of “Hold” and a consensus target price of $126.11.

Target Stock Up 0.3%

Shares of NYSE:TGT opened at $133.54 on Wednesday. The company’s fifty day moving average is $125.93 and its two-hundred day moving average is $114.33. 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 1-year low of $83.44 and a 1-year high of $137.87. The stock has a market capitalization of $60.65 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 2.60 and a beta of 1.00.

Target (NYSE:TGT) last posted its quarterly 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 business had revenue of $25.44 billion during 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 company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Equities analysts anticipate that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The business 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 dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 3.5%. This is a boost from Target’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Wednesday, August 12th. Target’s dividend payout ratio is currently 60.24%.

Insider Activity at Target

In other news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the sale, the insider directly owned 45,930 shares in the company, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

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.