Fayez Sarofim & Co Sells 10,538 Shares of Target Corporation $TGT

Fayez Sarofim & Co decreased its position in Target Corporation (NYSE:TGT) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,237 shares of the retailer’s stock after selling 10,538 shares during the quarter. Fayez Sarofim & Co’s holdings in Target were worth $16,880,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WFA of San Diego LLC bought a new position in shares of Target during the second quarter valued at about $25,000. Jessup Wealth Management Inc bought a new stake in Target in the 4th quarter worth about $25,000. Richardson Financial Services Inc. bought a new stake in Target in the 2nd quarter worth about $26,000. Altshuler Shaham Ltd purchased a new stake in Target in the 4th quarter valued at about $26,000. Finally, MidFirst Bank purchased a new stake in Target in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Buying and Selling at Target

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the business’s stock in a transaction 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 owned 45,930 shares of the company’s stock, valued at $5,782,127.70. The trade was a 17.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Matthew A. Liegel sold 926 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $163.51, for a total value of $151,410.26. Following the sale, the chief accounting officer owned 12,266 shares in the company, valued at approximately $2,005,613.66. This represents a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,426 shares of company stock valued at $4,044,690 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

Target Price Performance

Shares of NYSE:TGT opened at $163.85 on Thursday. The firm has a market capitalization of $74.42 billion, a PE ratio of 17.01, a P/E/G ratio of 3.03 and a beta of 0.97. The company has a quick ratio of 0.36, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $142.87 and a two-hundred day moving average price of $129.27. Target Corporation has a twelve month low of $83.44 and a twelve month high of $170.75.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $1.76. The company had revenue of $26.54 billion for the quarter, compared to analyst estimates of $26.13 billion. Target had a net margin of 4.08% and a return on equity of 23.23%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Target has set its FY 2026 guidance at 9.900-10.900 EPS. Equities analysts forecast that Target Corporation will post 8.88 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 $1.16 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $4.64 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio (DPR) is presently 48.18%.

Analyst Upgrades and Downgrades

TGT has been the topic of several recent analyst reports. KeyCorp reissued a “sector weight” rating on shares of Target in a research report on Thursday, August 20th. Royal Bank Of Canada increased their price target on Target from $166.00 to $178.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. Truist Financial increased their price target on Target from $147.00 to $167.00 and gave the company a “hold” rating in a research report on Thursday, August 20th. Roth Capital reiterated a “neutral” rating and set a $142.00 price target on shares of Target in a report on Thursday, August 20th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $154.00 price objective on shares of Target in a research report on Thursday, August 20th. Eleven research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $159.52.

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.