Target Corporation $TGT Shares Purchased by Allstate Corp

Allstate Corp grew its stake in shares of Target Corporation (NYSE:TGT) by 33.7% during the first quarter, Holdings Channel reports. The firm owned 18,180 shares of the retailer’s stock after purchasing an additional 4,582 shares during the period. Allstate Corp’s holdings in Target were worth $1,897,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. purchased a new position in shares of Target in the 4th quarter valued at $29,000. Heck Capital Advisors LLC acquired a new position in Target in the fourth quarter valued at $40,000. Atwood & Palmer Inc. grew its holdings in shares of Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer’s stock worth $41,000 after purchasing an additional 352 shares during the last quarter. Abound Financial LLC acquired a new stake in shares of Target during the first quarter worth about $43,000. Finally, Bellwether Advisors LLC purchased a new stake in shares of Target in the 4th quarter valued at about $47,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider owned 246,453 shares in the company, valued at $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by company insiders.

Target Stock Performance

NYSE TGT opened at $98.9880 on Friday. The stock has a market capitalization of $44.98 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 2.80 and a beta of 1.22. The business’s 50 day moving average is $102.06 and its two-hundred day moving average is $103.85. Target Corporation has a 12-month low of $87.35 and a 12-month high of $161.84. The company has a current ratio of 0.99, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.01. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. During the same period in the previous year, the business earned $2.57 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Wednesday, August 13th. Target’s dividend payout ratio (DPR) is currently 53.15%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Sanford C. Bernstein downgraded Target from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $97.00 to $82.00 in a research note on Monday, May 12th. Wells Fargo & Company lowered their target price on shares of Target from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. BMO Capital Markets cut their target price on shares of Target from $100.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, May 22nd. Piper Sandler reiterated a “neutral” rating on shares of Target in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of Target from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Ten analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $113.74.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.