Cerity Partners LLC Increases Stock Position in Target Corporation $TGT

Cerity Partners LLC boosted its position in Target Corporation (NYSE:TGT) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 213,626 shares of the retailer’s stock after acquiring an additional 16,677 shares during the period. Cerity Partners LLC’s holdings in Target were worth $19,162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TGT. Abundance Wealth Counselors raised its position in Target by 10.5% during the 3rd quarter. Abundance Wealth Counselors now owns 7,453 shares of the retailer’s stock valued at $669,000 after purchasing an additional 711 shares during the last quarter. Twelve Points Wealth Management LLC bought a new position in shares of Target during the third quarter valued at approximately $1,236,000. Park Place Capital Corp lifted its stake in Target by 5.8% in the third quarter. Park Place Capital Corp now owns 9,369 shares of the retailer’s stock worth $840,000 after acquiring an additional 517 shares during the period. Daymark Wealth Partners LLC lifted its stake in Target by 38.0% in the third quarter. Daymark Wealth Partners LLC now owns 94,776 shares of the retailer’s stock worth $8,501,000 after acquiring an additional 26,085 shares during the period. Finally, Asset Management One Co. Ltd. boosted its holdings in Target by 0.9% in the third quarter. Asset Management One Co. Ltd. now owns 191,849 shares of the retailer’s stock valued at $17,209,000 after acquiring an additional 1,679 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Target Stock Performance

Shares of Target stock opened at $105.52 on Friday. Target Corporation has a 1 year low of $83.44 and a 1 year high of $145.08. The firm’s 50-day moving average is $94.05 and its 200 day moving average is $95.83. The stock has a market cap of $47.78 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 11.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. Target had a net margin of 3.58% and a return on equity of 22.74%. The business had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $25.44 billion. During the same period in the previous year, the company earned $1.85 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Sell-side analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $110.00 price objective on shares of Target in a report on Friday, November 14th. Truist Financial increased their price target on shares of Target from $83.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, November 20th. Bank of America lowered their price objective on shares of Target from $93.00 to $80.00 and set an “underperform” rating for the company in a report on Thursday, November 20th. Wolfe Research reiterated an “underperform” rating and set a $81.00 target price on shares of Target in a report on Tuesday, December 30th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $115.00 target price on shares of Target in a research report on Thursday, December 18th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $102.83.

Target Company Profile

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.