Assenagon Asset Management S.A. Acquires 245,373 Shares of Target Corporation $TGT

Assenagon Asset Management S.A. increased its holdings in Target Corporation (NYSE:TGT) by 112.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 463,436 shares of the retailer’s stock after buying an additional 245,373 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Target were worth $41,570,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in shares of Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after purchasing an additional 3,059 shares in the last quarter. Quantbot Technologies LP bought a new position in Target during the 1st quarter valued at about $2,537,000. Level Four Advisory Services LLC boosted its position in Target by 46.6% in the first quarter. Level Four Advisory Services LLC now owns 39,752 shares of the retailer’s stock valued at $4,149,000 after buying an additional 12,628 shares in the last quarter. Martingale Asset Management L P grew its stake in Target by 159.2% during the first quarter. Martingale Asset Management L P now owns 56,830 shares of the retailer’s stock worth $5,931,000 after buying an additional 34,904 shares during the last quarter. Finally, United Asset Strategies Inc. increased its holdings in shares of Target by 105.0% during the first quarter. United Asset Strategies Inc. now owns 10,721 shares of the retailer’s stock worth $1,119,000 after buying an additional 5,490 shares in the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Price Performance

TGT opened at $99.10 on Friday. The company has a fifty day moving average price of $91.73 and a two-hundred day moving average price of $95.46. The firm has a market capitalization of $44.87 billion, a PE ratio of 12.03, a P/E/G ratio of 10.73 and a beta of 1.13. Target Corporation has a 52 week low of $83.44 and a 52 week high of $145.08. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 earnings per share 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 for the quarter, compared to analyst estimates of $25.44 billion. During the same quarter last year, the firm earned $1.85 EPS. Target’s quarterly revenue was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, analysts anticipate that Target Corporation will post 8.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TGT. UBS Group reduced their target price on Target from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. BTIG Research started coverage on Target in a research note on Tuesday, October 14th. They issued a “neutral” rating on the stock. Evercore ISI lowered their target price on Target from $100.00 to $95.00 and set an “in-line” rating for the company in a research note on Tuesday, December 9th. JPMorgan Chase & Co. cut their price target on Target from $117.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Finally, Citigroup decreased their price objective on shares of Target from $100.00 to $89.00 and set a “neutral” rating on the stock in a report on Thursday, November 20th. Ten investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $102.62.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.