The Vanguard Group, Inc. has recently announced that it has increased stake in Target Corporation (NYSE:TGT) by 3.88%. After grabbing 41.9 million shares, the institutional investor is now in possession of 1.57 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 9.08% having worth around $5.72 billion. Moreover, Massachusetts Financial Services increased its share by 0.81 million to have a control over 9.31 million shares. And Geode Capital Management LLC raised its holdings to 0.14 million shares by acquiring 8.44 million shares or 1.83% of the stake.
Target Corporation (TGT) concluded trading on 09/14/23 at a closing price of $124.77, with 3.76 million shares of worth about $468.91 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -21.59% during that period and on Thursday the price saw a gain of about 1.50%. Currently the company’s common shares owned by public are about 461.60M shares, out of which, 460.73M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 35 analysts are covering the TGT stock and their offered price forecasts bring an average price target of $148.70. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $184.00 and could fall to a lowest price of $120.00. The stock’s current price level is 17.23% above of average price target set by the analysts, while a rise to estimated low would result in loss of -3.97% for the stock. However, touching the estimated high of $184.00 would mean a gain of 32.19% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 115 times over the past 12 months. They bought 593,274 shares in 49 of the transactions. In 66 selling transactions, insiders dumped 421,832 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Washington Mutual Investors Fund are the top 3 mutual funds which are holding stakes in Target Corporation Vanguard Total Stock Market ETF is currently holding 14.39 million shares of worth totaling $1.96 billion. The company recently came selling 70045.0 shares which brought its stake up to 3.12% of the company’s outstanding shares. Vanguard 500 Index Fund bought 65751.0 shares, after which its hold over company’s outstanding shares expand to 2.40%, leaving 11.06 million shares with the mutual fund that have a worth of about $1.51 billion. Washington Mutual Investors Fund, after buying 9.78 million shares, have now control over 2.12% of the stake in the company. It holds 0.78 million shares of worth $1.33 billion.
Target Corporation (NYSE: TGT) started trading at $123.60, above $0.67 from concluding price of the previous day. However, the stock later moved at a day high price of 124.96, or with a gain of 1.50%. Stock saw a price change of 0.25% in past 5 days and over the past one month there was a price change of -0.22%. Year-to-date (YTD), TGT shares are showing a performance of -16.28% which decreased to -24.95% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $120.75 but also hit the highest price of $181.70 during that period. The average intraday trading volume for Target Corporation shares is 5.18 million. The stock is currently trading -0.41% below its 20-day simple moving average (SMA20), while that difference is down -3.64% for SMA50 and it goes to -16.31% lower than SMA200.
The Vanguard Group, Inc. acquired 41.9 million shares of Target Corporation having value of about $5.72 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 1.57 million shares in the company valued at close to $195305101.17, or have control over 3.88% stake in the company. Target Corporation (NYSE: TGT) currently have 461.60M outstanding shares and institutions hold larger chunk of about 81.90% of that. Holding of mutual funds in the company is about 39.54% while other institutional holders and individual stake holders have control over 41.99% and 1.06% of the stake respectively.
The stock has a current market capitalization of $57.95B and its 3Y-monthly beta is at 1.01. PE ratio of stock for trailing 12 months is 17.12, while it has posted earnings per share of $7.29 in the same period. Its PEG reads 0.94 and has Quick Ratio of 0.20 while making debt-to-equity ratio of 1.34. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TGT, volatility over the week remained 1.44% while standing at 2.26% over the month.
Analysts are in expectations that Target Corporation (TGT) stock would likely to be making an EPS of $iShares 20 Year Treasury Bond in the current quarter, while forecast for next quarter EPS is $93.53 and it is $ETF for next year. For the current quarter EPS, analysts have given the company a lowest target $TG Therapeutics, Inc. which is $Vanguard Information Tech ETF at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Taseko Mines, Ltd. in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -57.60% while it is estimated to increase by 18.43% in next year. EPS is likely to grow at an annualized rate of 18.27% for next 5-years, compared to annual growth of 5.10% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Daiwa Securities on August 22, 2023 offering a Neutral rating for the stock and assigned a target price of $134 to it.