NBT Bank N.A. Purchases New Holdings in Target Corporation $TGT

NBT Bank N.A. purchased a new position in Target Corporation (NYSE:TGT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,453 shares of the retailer’s stock, valued at approximately $2,891,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC raised its holdings in Target by 41.8% during the first quarter. Bogart Wealth LLC now owns 111,001 shares of the retailer’s stock valued at $13,453,000 after acquiring an additional 32,746 shares during the period. Munich Reinsurance Co Stock Corp in Munich bought a new position in shares of Target in the first quarter worth about $6,686,000. Saudi Central Bank grew its position in shares of Target by 89.7% during the second quarter. Saudi Central Bank now owns 31,700 shares of the retailer’s stock worth $4,140,000 after purchasing an additional 14,986 shares in the last quarter. Nicholas Investment Partners LP grew its position in shares of Target by 204.3% during the second quarter. Nicholas Investment Partners LP now owns 55,154 shares of the retailer’s stock worth $7,204,000 after purchasing an additional 37,030 shares in the last quarter. Finally, Engineers Gate Manager LP grew its position in shares of Target by 4,119.2% during the second quarter. Engineers Gate Manager LP now owns 372,558 shares of the retailer’s stock worth $48,660,000 after purchasing an additional 363,728 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGT has been the topic of several recent analyst reports. Guggenheim lifted their target price on Target from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Royal Bank Of Canada upped their price target on Target from $166.00 to $178.00 and gave the stock an “outperform” rating in a research note on Thursday, August 20th. Roth Capital reaffirmed a “neutral” rating and set a $142.00 price objective on shares of Target in a report on Thursday, August 20th. TD Cowen lifted their price objective on shares of Target from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Thursday, August 20th. Finally, Barclays boosted their target price on shares of Target from $115.00 to $140.00 and gave the stock an “underweight” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $159.33.

Target Trading Up 3.7%

Shares of Target stock opened at $158.07 on Friday. The firm has a market cap of $71.81 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 2.82 and a beta of 0.98. The business has a 50-day moving average price of $157.84 and a 200-day moving average price of $141.00. The company has a quick ratio of 0.36, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. Target Corporation has a twelve month low of $83.44 and a twelve month high of $170.75.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 19th. The retailer reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $1.76. The firm had revenue of $26.54 billion for the quarter, compared to analysts’ expectations of $26.13 billion. Target had a return on equity of 23.23% and a net margin of 4.08%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period 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 research analysts anticipate that Target Corporation will post 8.89 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 11th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, November 10th. Target’s dividend payout ratio (DPR) is currently 48.18%.

Insider Activity at Target

In other Target news, CAO Matthew Liegel sold 926 shares of Target stock in a transaction that occurred 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 of the company’s stock, valued at $2,005,613.66. The trade was a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Melissa Kremer sold 15,500 shares of Target stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $169.96, for a total value of $2,634,380.00. Following the completion of the sale, the insider directly owned 56,981 shares in the company, valued at approximately $9,684,490.76. The trade was a 21.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.13% of the company’s stock.

Target Profile

Target Corporation is a U.S.-based general merchandise retailer that operates stores and digital shopping platforms under the Target name. The company sells a broad assortment of products, including apparel and accessories, beauty and household essentials, electronics, toys, groceries, home furnishings, and seasonal merchandise.

Target also offers services designed to support omnichannel shopping, including order pickup, Drive Up, same-day delivery, and shipping through its digital channels.