Modera Wealth Management LLC Reduces Stock Position in Target Corporation $TGT

Modera Wealth Management LLC trimmed its holdings in Target Corporation (NYSE:TGT) by 4.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,069 shares of the retailer’s stock after selling 5,482 shares during the period. Modera Wealth Management LLC’s holdings in Target were worth $13,583,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TGT. Norges Bank bought a new stake in shares of Target in the fourth quarter worth $587,903,000. TOMS Capital Investment Management LP bought a new position in Target during the 4th quarter valued at $257,571,000. AQR Capital Management LLC boosted its stake in Target by 243.8% during the 4th quarter. AQR Capital Management LLC now owns 2,870,210 shares of the retailer’s stock valued at $280,563,000 after acquiring an additional 2,035,298 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Target by 6,639.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,912,963 shares of the retailer’s stock worth $186,992,000 after acquiring an additional 1,884,577 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Target by 104.7% during the 4th quarter. Marshall Wace LLP now owns 65,505 shares of the retailer’s stock worth $6,403,000 after acquiring an additional 1,448,146 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TGT shares. Robert W. Baird boosted their target price on shares of Target from $125.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 21st. Zacks Research raised shares of Target from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. DA Davidson lifted their price target on Target from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Roth Capital reissued a “neutral” rating and issued a $114.00 price objective on shares of Target in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Target from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Target has a consensus rating of “Hold” and an average target price of $131.96.

Insider Transactions at Target

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the transaction, the insider owned 45,930 shares of the company’s stock, valued at $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is owned by corporate insiders.

Target Stock Down 0.2%

TGT stock opened at $139.93 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. Target Corporation has a 1-year low of $83.44 and a 1-year high of $144.40. The firm has a fifty day moving average price of $129.35 and a two-hundred day moving average price of $120.43. The firm has a market cap of $63.55 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.74 and a beta of 0.98.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $24.66 billion. During the same period in the prior year, the company earned $1.30 earnings per share. The firm’s 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. Research analysts predict that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.3%. This is a positive change from Target’s previous quarterly dividend of $1.14. The ex-dividend date is Wednesday, August 12th. Target’s dividend payout ratio (DPR) is currently 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.