Concurrent Investment Advisors LLC Grows Position in Target Corporation $TGT

Concurrent Investment Advisors LLC raised its stake in shares of Target Corporation (NYSE:TGT) by 17.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,064 shares of the retailer’s stock after purchasing an additional 8,407 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Target were worth $5,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GRIMES & Co WEALTH MANAGEMENT LLC grew its holdings in shares of Target by 6.0% during the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 7,465 shares of the retailer’s stock valued at $670,000 after buying an additional 424 shares during the last quarter. Nordea Investment Management AB lifted its position in Target by 21.4% during the 3rd quarter. Nordea Investment Management AB now owns 2,408,505 shares of the retailer’s stock worth $210,865,000 after acquiring an additional 425,081 shares during the period. N.E.W. Advisory Services LLC lifted its position in Target by 111.1% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 760 shares of the retailer’s stock worth $68,000 after acquiring an additional 400 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Target by 3.7% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,884 shares of the retailer’s stock valued at $1,335,000 after purchasing an additional 525 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Target by 4.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,350,638 shares of the retailer’s stock valued at $121,152,000 after purchasing an additional 61,751 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

Shares of NYSE TGT opened at $108.62 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. The stock has a market capitalization of $49.19 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 11.54 and a beta of 1.12. The firm’s 50 day simple moving average is $94.71 and its 200-day simple moving average is $95.93. Target Corporation has a 12 month low of $83.44 and a 12 month high of $145.08.

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, topping analysts’ consensus estimates of $1.71 by $0.07. The firm had revenue of $25.27 billion for the quarter, compared to the consensus estimate of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Analysts expect that Target Corporation will post 8.69 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on TGT shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $110.00 target price on shares of Target in a research report on Friday, November 14th. Argus reduced their price target on shares of Target from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Monday, December 1st. Wolfe Research reaffirmed an “underperform” rating and issued a $81.00 price objective on shares of Target in a report on Tuesday, December 30th. Piper Sandler reiterated a “neutral” rating and issued a $85.00 price objective (down previously from $94.00) on shares of Target in a research note on Thursday, November 20th. Finally, Royal Bank Of Canada reduced their target price on shares of Target from $107.00 to $99.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Ten research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $103.23.

Target 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.