Capital World Investors Has $1.83 Billion Position in Target Co. (NYSE:TGT)

Capital World Investors reduced its position in shares of Target Co. (NYSE:TGTGet Rating) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,619,070 shares of the retailer’s stock after selling 322,925 shares during the period. Capital World Investors owned about 1.86% of Target worth $1,829,139,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Landmark Wealth Management LLC bought a new stake in Target during the first quarter worth about $25,000. Blume Capital Management Inc. bought a new stake in Target during the first quarter worth about $25,000. Delos Wealth Advisors LLC bought a new stake in Target during the fourth quarter worth about $29,000. Roble Belko & Company Inc bought a new stake in Target during the first quarter worth about $32,000. Finally, Cornerstone Advisory LLC bought a new stake in Target during the fourth quarter worth about $36,000. 77.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on TGT shares. Gordon Haskett dropped their price objective on Target from $300.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. Piper Sandler started coverage on Target in a research note on Friday, July 22nd. They issued a “neutral” rating and a $190.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on Target from $195.00 to $193.00 and set a “buy” rating on the stock in a research note on Thursday, August 18th. TheStreet lowered Target from a “b-” rating to a “c+” rating in a research note on Friday, June 24th. Finally, Guggenheim upped their price objective on Target to $190.00 in a research note on Monday, August 22nd. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Target currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.67.

Target Trading Down 0.5 %

Shares of TGT stock opened at $165.38 on Thursday. The stock’s fifty day moving average price is $161.72 and its two-hundred day moving average price is $184.50. The company has a market cap of $76.12 billion, a PE ratio of 18.79, a P/E/G ratio of 2.17 and a beta of 1.02. Target Co. has a fifty-two week low of $137.16 and a fifty-two week high of $268.98. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.14 and a current ratio of 0.82.

Target (NYSE:TGTGet Rating) last issued its earnings results 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 business had revenue of $26.04 billion during the quarter, compared to analyst estimates of $26.07 billion. Target had a net margin of 3.92% and a return on equity of 35.15%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.64 EPS. Equities analysts predict that Target Co. will post 8.11 EPS for the current fiscal year.

Insider Buying and Selling at Target

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

Target Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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