Target Corporation $TGT Shares Acquired by Saudi Central Bank

Saudi Central Bank lifted its position in Target Corporation (NYSE:TGT) by 89.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,700 shares of the retailer’s stock after purchasing an additional 14,986 shares during the quarter. Saudi Central Bank’s holdings in Target were worth $4,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kimelman & Baird LLC purchased a new stake in Target in the second quarter valued at approximately $26,000. Richardson Financial Services Inc. purchased a new position in Target during the 2nd quarter worth approximately $26,000. Archer Investment Corp purchased a new position in Target during the 2nd quarter worth approximately $30,000. WFA of San Diego LLC acquired a new stake in Target during the 2nd quarter valued at approximately $25,000. Finally, Jessup Wealth Management Inc acquired a new stake in Target during the 4th quarter valued at approximately $25,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

Target stock opened at $164.15 on Monday. The stock has a market capitalization of $74.57 billion, a P/E ratio of 17.05, a P/E/G ratio of 3.06 and a beta of 0.99. The company’s fifty day moving average price is $146.84 and its 200 day moving average price is $131.68. 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 Corporation has a 1 year low of $83.44 and a 1 year high of $170.75.

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

Target Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th were given a dividend of $1.16 per share. This is a boost from Target’s previous quarterly dividend of $1.14. The ex-dividend date was Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 2.8%. Target’s payout ratio is currently 48.18%.

Insider Transactions at Target

In other Target news, CAO Matthew A. Liegel sold 926 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $163.51, for a total transaction of $151,410.26. Following the completion of the sale, the chief accounting officer directly owned 12,266 shares in the company, valued at approximately $2,005,613.66. The trade was a 7.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Melissa K. Kremer sold 15,500 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $169.96, for a total value of $2,634,380.00. Following the transaction, the insider directly owned 56,981 shares of the company’s stock, valued at $9,684,490.76. The trade was a 21.38% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TGT shares. Royal Bank Of Canada increased their price objective on shares of Target from $166.00 to $178.00 and gave the stock an “outperform” rating in a research note on Thursday, August 20th. Citigroup boosted their target price on shares of Target from $148.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Wolfe Research set a $169.00 price target on shares of Target in a report on Monday, August 3rd. UBS Group increased their price target on Target from $166.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Jefferies Financial Group lifted their price objective on Target from $161.00 to $177.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Eleven equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $159.52.

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.