EP Wealth Advisors LLC Makes New Investment in Target Co. (NYSE:TGT)

Posted by on Sep 19th, 2023

EP Wealth Advisors LLC bought a new position in shares of Target Co. (NYSE:TGT – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,397 shares of the retailer’s stock, valued at approximately $222,000.

A number of other hedge funds also recently modified their holdings of TGT. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Target by 3,577.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,471 shares of the retailer’s stock worth $312,000 after purchasing an additional 1,431 shares during the period. Zions Bancorporation N.A. lifted its holdings in shares of Target by 3.3% during the first quarter. Zions Bancorporation N.A. now owns 3,045 shares of the retailer’s stock worth $646,000 after purchasing an additional 96 shares during the period. Covestor Ltd lifted its holdings in shares of Target by 131.7% during the first quarter. Covestor Ltd now owns 702 shares of the retailer’s stock worth $149,000 after purchasing an additional 399 shares during the period. Merit Financial Group LLC acquired a new position in Target in the first quarter valued at $208,000. Finally, Ergoteles LLC lifted its holdings in Target by 191.5% in the first quarter. Ergoteles LLC now owns 11,794 shares of the retailer’s stock valued at $2,503,000 after buying an additional 7,748 shares during the period. Institutional investors and hedge funds own 78.33% of the company’s stock.

Insider Activity

In other news, insider Brian C. Cornell sold 30,000 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $130.70, for a total transaction of $3,921,000.00. Following the completion of the transaction, the insider now directly owns 399,669 shares of the company’s stock, valued at approximately $52,236,738.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

TGT has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Target from $220.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, August 14th. Wells Fargo & Company dropped their target price on shares of Target from $165.00 to $135.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 9th. Oppenheimer dropped their target price on shares of Target from $190.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, August 1st. Citigroup lowered shares of Target from a “buy” rating to a “neutral” rating and dropped their target price for the company from $177.00 to $130.00 in a report on Friday, June 9th. Finally, Raymond James lowered shares of Target from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 26th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $159.21.

View Our Latest Stock Report on Target

Target Trading Down 3.0 %

Shares of TGT stock opened at $119.34 on Tuesday. Target Co. has a 52-week low of $118.55 and a 52-week high of $181.70. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.18 and a current ratio of 0.83. The company has a 50-day simple moving average of $129.09 and a two-hundred day simple moving average of $142.93. The company has a market capitalization of $55.09 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 1.17 and a beta of 1.01.

Target (NYSE:TGT – Get Free Report) last issued its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.39. Target had a net margin of 3.12% and a return on equity of 29.43%. The business had revenue of $24.77 billion during the quarter, compared to the consensus estimate of $25.18 billion. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. Research analysts anticipate that Target Co. will post 7.6 EPS for the current fiscal year.

Target Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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