Sumitomo Mitsui Trust Group Inc. Reduces Position in Target Corporation $TGT

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Target Corporation (NYSE:TGT) by 8.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,232,234 shares of the retailer’s stock after selling 119,341 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Target were worth $149,347,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. WFA of San Diego LLC acquired a new stake in Target during the 2nd quarter worth $25,000. Jessup Wealth Management Inc acquired a new position in Target in the 4th quarter valued at about $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Target during the fourth quarter worth approximately $26,000. Global Wealth Strategies & Associates raised its position in Target by 192.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer’s stock worth $29,000 after buying an additional 192 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in Target during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

TGT stock opened at $132.11 on Friday. The stock’s fifty day simple moving average is $128.26 and its 200-day simple moving average is $118.87. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. Target Corporation has a 52-week low of $83.44 and a 52-week high of $142.82. The stock has a market capitalization of $60.00 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.59 and a beta of 0.98.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The company had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the prior year, the company posted $1.30 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Equities research analysts expect that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a 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 (DPR) is presently 60.24%.

Insider Activity

In related news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

TGT has been the subject of a number of recent analyst reports. DA Davidson raised their target price on Target from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Guggenheim upped their price target on shares of Target from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, June 12th. Wall Street Zen upgraded shares of Target from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Telsey Advisory Group raised their price objective on shares of Target from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Finally, Barclays restated an “underweight” rating on shares of Target in a research report on Monday, June 1st. Twelve analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $130.64.

About Target

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.