Commonwealth Equity Services LLC Sells 5,302 Shares of Target Corporation $TGT

Commonwealth Equity Services LLC reduced its position in shares of Target Corporation (NYSE:TGT) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 298,141 shares of the retailer’s stock after selling 5,302 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Target were worth $26,743,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Target by 14.7% during the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after buying an additional 6,607,982 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Target during the second quarter worth about $595,839,000. Norges Bank acquired a new stake in Target in the 2nd quarter worth about $578,009,000. State Street Corp raised its stake in Target by 4.3% in the 2nd quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock worth $3,624,016,000 after purchasing an additional 1,529,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Target by 133.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,223,776 shares of the retailer’s stock valued at $219,376,000 after purchasing an additional 1,273,129 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Target Trading Up 2.5%

Shares of NYSE TGT opened at $106.31 on Friday. The firm has a 50 day moving average price of $93.80 and a two-hundred day moving average price of $95.76. The stock has a market cap of $48.14 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 11.28 and a beta of 1.12. 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 issued 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. The company had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. Target’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. As a group, equities analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Mizuho dropped their price target on shares of Target from $94.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, November 20th. Royal Bank Of Canada lowered their price objective on Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Truist Financial upped their target price on Target from $83.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, November 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Target in a report on Wednesday, October 8th. Finally, Roth Capital set a $88.00 price target on Target in a research note on Thursday, November 20th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $102.83.

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.