Commonwealth Equity Services LLC Has $26.74 Million Stake in Target Corporation $TGT

Commonwealth Equity Services LLC trimmed its position in Target Corporation (NYSE:TGT) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 298,141 shares of the retailer’s stock after selling 5,302 shares during the period. Commonwealth Equity Services LLC owned approximately 0.07% of Target worth $26,743,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Asset Management One Co. Ltd. boosted its position in Target by 0.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 191,849 shares of the retailer’s stock worth $17,209,000 after acquiring an additional 1,679 shares during the last quarter. DMKC Advisory Services LLC lifted its position in shares of Target by 1.7% in the third quarter. DMKC Advisory Services LLC now owns 16,741 shares of the retailer’s stock worth $1,502,000 after purchasing an additional 275 shares in the last quarter. Proffitt & Goodson Inc. boosted its holdings in Target by 43.3% during the third quarter. Proffitt & Goodson Inc. now owns 5,483 shares of the retailer’s stock worth $492,000 after purchasing an additional 1,658 shares during the last quarter. Davis Capital Management acquired a new position in Target during the third quarter worth $409,000. Finally, Verity & Verity LLC grew its position in Target by 3.6% in the third quarter. Verity & Verity LLC now owns 170,670 shares of the retailer’s stock valued at $15,309,000 after purchasing an additional 5,884 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Up 2.5%

TGT stock opened at $106.31 on Friday. Target Corporation has a 1-year low of $83.44 and a 1-year high of $145.08. The business’s 50 day simple moving average is $93.80 and its 200 day simple moving average is $95.76. The company has a current ratio of 0.97, a quick ratio of 0.27 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $48.14 billion, a PE ratio of 12.90, a PEG ratio of 11.28 and a beta of 1.12.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.07. Target had a return on equity of 22.74% and a net margin of 3.58%.The business had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. During the same quarter last year, the firm posted $1.85 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, research analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Robert W. Baird cut their price target on shares of Target from $100.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Bank of America dropped their target price on Target from $93.00 to $80.00 and set an “underperform” rating on the stock in a report on Thursday, November 20th. Cowen restated a “hold” rating on shares of Target in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Target in a research report on Wednesday, October 8th. Finally, TD Cowen cut their price objective on Target from $105.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, November 20th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $102.83.

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.