Community Bank N.A. Lowers Holdings in Target Corporation $TGT

Community Bank N.A. trimmed its position in Target Corporation (NYSE:TGT) by 48.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,437 shares of the retailer’s stock after selling 5,024 shares during the quarter. Community Bank N.A.’s holdings in Target were worth $710,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System grew its holdings in Target by 13,417.6% during the 2nd quarter. California State Teachers Retirement System now owns 91,340,014 shares of the retailer’s stock worth $11,929,919,000 after acquiring an additional 90,664,304 shares in the last quarter. BlackRock Inc. bought a new position in shares of Target in the 2nd quarter worth $5,054,604,000. Bank of New York Mellon Corp purchased a new stake in shares of Target during the 2nd quarter worth $831,466,000. Norges Bank purchased a new stake in shares of Target during the 4th quarter worth $587,903,000. Finally, TOMS Capital Investment Management LP bought a new stake in Target during the fourth quarter valued at about $257,571,000. Institutional investors own 79.73% of the company’s stock.

Insiders Place Their Bets

In other Target news, insider Melissa Kremer sold 15,500 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $169.96, for a total transaction of $2,634,380.00. Following the completion of the transaction, the insider directly owned 56,981 shares in the company, valued at approximately $9,684,490.76. This represents a 21.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew Liegel sold 926 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $163.51, for a total transaction of $151,410.26. Following the transaction, the chief accounting officer owned 12,266 shares of the company’s stock, valued at approximately $2,005,613.66. This trade represents a 7.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by company insiders.

Target Stock Performance

Shares of TGT opened at $162.68 on Wednesday. The stock has a 50-day moving average of $148.09 and a two-hundred day moving average of $132.35. The stock has a market cap of $73.91 billion, a P/E ratio of 16.89, a P/E/G ratio of 3.06 and a beta of 0.99. Target Corporation has a one year low of $83.44 and a one year high of $170.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.36 and a current ratio of 0.99.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 19th. The retailer reported $4.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $1.76. Target had a return on equity of 23.23% and a net margin of 4.08%.The business had revenue of $26.54 billion during the quarter, compared to analyst estimates of $26.13 billion. During the same quarter last year, the business posted $2.05 EPS. The company’s revenue was up 5.3% on a year-over-year basis. Target has set its FY 2026 guidance at 9.900-10.900 EPS. As a group, research analysts predict that Target Corporation will post 8.85 EPS for the current year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th were given a dividend of $1.16 per share. This is a positive change from Target’s previous quarterly dividend of $1.14. The ex-dividend date was Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.9%. Target’s payout ratio is 48.18%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TGT. Robert W. Baird set a $170.00 target price on Target in a research note on Thursday, August 20th. Wolfe Research set a $169.00 price target on shares of Target in a research report on Monday, August 3rd. Mizuho set a $150.00 price target on shares of Target in a report on Thursday, August 20th. Oppenheimer lifted their price objective on shares of Target from $140.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Finally, Argus set a $150.00 price objective on shares of Target in a research note on Friday, May 22nd. Eleven analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $159.52.

Target Company Profile

Target Corporation is a general merchandise retailer that operates stores and digital shopping channels across the United States. Its assortment includes apparel and accessories, beauty products, home furnishings and décor, electronics, toys, sporting goods, household essentials, groceries and other everyday merchandise.

Target offers a combination of in-store and digital services, including order pickup, Drive Up and same-day delivery through Shipt. The company also develops and sells a broad portfolio of owned brands, while offering national-brand products and merchandise through a range of seasonal and specialty categories.

The company traces its history to the Dayton Company, founded in Minneapolis in 1902.