PFS Investments Inc. Acquires 2,869 Shares of Target Co. (NYSE:TGT)

PFS Investments Inc. raised its holdings in shares of Target Co. (NYSE:TGTGet Rating) by 13.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,965 shares of the retailer’s stock after acquiring an additional 2,869 shares during the quarter. PFS Investments Inc.’s holdings in Target were worth $5,086,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TGT. Norges Bank bought a new stake in shares of Target in the fourth quarter worth about $1,094,330,000. Capital World Investors grew its position in Target by 22.9% in the fourth quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock worth $2,069,535,000 after acquiring an additional 1,666,948 shares in the last quarter. Nordea Investment Management AB grew its position in Target by 73.9% in the first quarter. Nordea Investment Management AB now owns 1,902,355 shares of the retailer’s stock worth $414,599,000 after acquiring an additional 808,485 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Target by 1,140.3% in the first quarter. Assenagon Asset Management S.A. now owns 701,790 shares of the retailer’s stock worth $148,934,000 after acquiring an additional 645,209 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Target by 40.3% in the fourth quarter. Alliancebernstein L.P. now owns 2,148,499 shares of the retailer’s stock worth $497,249,000 after acquiring an additional 617,060 shares in the last quarter. 77.42% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Matthew A. Liegel sold 1,226 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total transaction of $213,078.80. Following the sale, the chief accounting officer now directly owns 2,812 shares of the company’s stock, valued at $488,725.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Target news, insider John J. Mulligan sold 45,490 shares of the company’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $139.98, for a total value of $6,367,690.20. Following the sale, the insider now directly owns 157,333 shares of the company’s stock, valued at $22,023,473.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,226 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total transaction of $213,078.80. Following the completion of the sale, the chief accounting officer now directly owns 2,812 shares in the company, valued at $488,725.60. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Target Price Performance

Shares of TGT opened at $173.65 on Monday. The firm has a market capitalization of $79.92 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.14. Target Co. has a 1-year low of $137.16 and a 1-year high of $268.98. The company’s fifty day moving average price is $160.68 and its 200-day moving average price is $184.81.

Target (NYSE:TGTGet Rating) last announced its quarterly earnings data on Wednesday, August 17th. The retailer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.33). The company had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $26.07 billion. Target had a net margin of 3.92% and a return on equity of 35.15%. Target’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $3.64 earnings per share. On average, equities research analysts predict that Target Co. will post 8.11 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on TGT. Bank of America boosted their target price on Target from $165.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. Guggenheim lifted their price target on shares of Target to $190.00 in a research note on Monday, August 22nd. Credit Suisse Group decreased their price target on shares of Target from $286.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, May 23rd. Tigress Financial decreased their price target on shares of Target from $320.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, July 29th. Finally, Piper Sandler started coverage on shares of Target in a research note on Friday, July 22nd. They set a “neutral” rating and a $190.00 price target for the company. Nine research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Target has an average rating of “Moderate Buy” and an average target price of $193.42.

About Target

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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