Target Corporation $TGT Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in Target Corporation (NYSE:TGT) by 78.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 410,500 shares of the retailer’s stock after selling 1,514,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Target were worth $49,753,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TGT. Brighton Jones LLC raised its position in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after buying an additional 3,059 shares during the period. Woodline Partners LP increased its stake in Target by 39.9% during the first quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock worth $4,040,000 after acquiring an additional 11,047 shares during the last quarter. NewEdge Advisors LLC increased its stake in Target by 22.8% during the second quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer’s stock worth $6,872,000 after acquiring an additional 12,948 shares during the last quarter. Sei Investments Co. raised its position in Target by 8.0% in the second quarter. Sei Investments Co. now owns 190,860 shares of the retailer’s stock valued at $18,832,000 after purchasing an additional 14,195 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in Target by 11.0% in the second quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer’s stock valued at $26,910,000 after purchasing an additional 27,063 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Target

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the sale, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. This represents a 17.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by company insiders.

Target Stock Performance

NYSE TGT opened at $140.47 on Tuesday. 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 has a market cap of $63.80 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.67 and a beta of 0.98. The stock has a 50-day moving average of $131.31 and a two-hundred day moving average of $122.19. Target Corporation has a 1-year low of $83.44 and a 1-year high of $144.40.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The business had revenue of $25.44 billion for the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, analysts anticipate that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

The firm also recently announced 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%. The ex-dividend date of this dividend is Wednesday, August 12th. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s payout ratio is currently 60.24%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TGT shares. Citigroup increased their price target on Target from $117.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $123.00 price objective on shares of Target in a report on Friday, May 15th. Freedom Capital cut shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Telsey Advisory Group increased their target price on shares of Target from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. Finally, Robert W. Baird lifted their price target on shares of Target from $125.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $132.15.

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.