Cerity Partners LLC Raises Stock Holdings in Target Corporation $TGT

Cerity Partners LLC raised its stake in shares of Target Corporation (NYSE:TGT) by 8.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 213,626 shares of the retailer’s stock after purchasing an additional 16,677 shares during the quarter. Cerity Partners LLC’s holdings in Target were worth $19,162,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Target by 14.7% in the second quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after purchasing an additional 6,607,982 shares during the last quarter. State Street Corp raised its stake in Target by 4.3% during the 2nd quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock valued at $3,624,016,000 after buying an additional 1,529,026 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Target by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 16,247,590 shares of the retailer’s stock valued at $1,602,825,000 after buying an additional 277,176 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in shares of Target in the 2nd quarter worth $595,839,000. Finally, Norges Bank bought a new stake in shares of Target in the second quarter worth $578,009,000. 79.73% of the stock is currently owned by institutional investors.

Target Price Performance

Shares of NYSE:TGT opened at $105.52 on Friday. The company has a market capitalization of $47.78 billion, a P/E ratio of 12.81, a P/E/G ratio of 11.57 and a beta of 1.12. Target Corporation has a 1-year low of $83.44 and a 1-year high of $145.08. The firm’s 50 day simple moving average is $94.05 and its two-hundred day simple moving average is $95.83. 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 announced its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating the consensus estimate 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 company’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Research analysts expect that Target Corporation will post 8.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 target price on shares of Target in a report on Friday, November 14th. DA Davidson reaffirmed a “buy” rating and set a $108.00 price target on shares of Target in a research report on Thursday, November 20th. Robert W. Baird dropped their price objective on shares of Target from $100.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $108.00 target price on shares of Target in a research report on Thursday. Finally, Zacks Research upgraded shares of Target from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. Ten equities 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.com, the company has a consensus 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.