Wedge Capital Management L L P NC Sells 32,056 Shares of Target Corporation $TGT

Wedge Capital Management L L P NC reduced its position in shares of Target Corporation (NYSE:TGT) by 94.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,782 shares of the retailer’s stock after selling 32,056 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Target were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. WFA of San Diego LLC acquired a new stake in shares of Target during the second quarter worth $25,000. Jessup Wealth Management Inc acquired a new position in shares of Target in the fourth quarter valued at about $25,000. Altshuler Shaham Ltd bought a new position in Target during the fourth quarter worth about $26,000. MidFirst Bank acquired a new stake in Target in the 4th quarter worth about $31,000. Finally, Capital Advisors Ltd. LLC boosted its holdings in Target by 245.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 273 shares of the retailer’s stock valued at $33,000 after purchasing an additional 194 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the sale, the insider directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is owned by company insiders.

Target Stock Performance

Shares of NYSE:TGT opened at $154.52 on Friday. Target Corporation has a 1 year low of $83.44 and a 1 year high of $156.47. The stock has a market capitalization of $70.18 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 2.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The company’s 50 day simple moving average is $138.02 and its 200 day simple moving average is $126.14.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter last year, the business posted $1.30 EPS. The company’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. As a group, research analysts predict that Target Corporation will post 8.4 EPS for the current fiscal 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 given a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 3.0%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is currently 61.29%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TGT. Zacks Research raised shares of Target from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Barclays restated an “underweight” rating on shares of Target in a research note on Monday, June 1st. Argus set a $150.00 target price on Target in a research report on Friday, May 22nd. UBS Group increased their target price on Target from $144.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price target on Target from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. One research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Target currently has a consensus rating of “Hold” and an average target price of $143.30.

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.