The Vanguard Group, Inc. recently announced the acquisition of new stake in Target Corporation (NYSE:TGT). The institutional investor has increased its shareholding in the Consumer Defensive company by 3.88% to 41.9 million shares with purchase of 1.57 million shares. This fresh investment now brings its stake to 9.08% valued currently at $5.3 billion. In addition, Massachusetts Financial Services raised its holdings by 0.81 million to 9.31 million shares. And Geode Capital Management LLC has lifted its position by 1.72% or 0.14 million shares – to 8.44 million shares.
With over 5.4 million Target Corporation (TGT) shares trading Monday and a closing price of $119.34 on the day, the dollar volume was approximately $644.53 million. The shares have shown a negative half year performance of -25.11% and its price on 09/18/23 lost nearly -3.02%. Currently, there are 461.60M common shares owned by the public and among those 460.73M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 35 analysts who have offered their price forecasts for TGT have a consensus price objective of $148.70. The analysts have set the share’s price value over the next 12 months at a high of $184.00 and a low of $120.00. The average price target is 20.97% above its recent price level and an upside to the estimated low will see the stock gain 0.55% over that period. But an upside of 35.14% will see the stock hit the forecast high price target while median target price for the stock is $142.80.
Insiders at the company have transacted a total of 115 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 49 of these insider trades were purchases, accounting for 593,274 shares. Insider sales of the common stock occurred on 66 occasions, with total insider shares sold totaling 421,832 shares.
The top 3 mutual fund holders in Target Corporation are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Washington Mutual Investors Fund. Vanguard Total Stock Market ETF owns 14.39 million shares of the company’s stock, all valued at over $1.82 billion. The company sold 1205.0 shares recently to bring their total holdings to about 3.12% of the shares outstanding. Vanguard 500 Index Fund bought 59474.0 shares to see its total holdings expand to 11.11 million shares valued at over $1.41 billion and representing 2.41% of the shares outstanding. Washington Mutual Investors Fund bought 0.78 million shares to bring its total holdings to over 9.78 million shares at a value of $1.24 billion. Washington Mutual Investors Fund now owns shares totaling to 2.12% of the shares outstanding.
Shares of Target Corporation (NYSE: TGT) opened at $122.92, down -$0.13 from a prior closing price of $123.05. However, the script later moved the day high at 122.92, down -3.02%. The company’s stock has a 5-day price change of -2.71% and -10.81% over the past three months. TGT shares are trading -19.93% year to date (YTD), with the 12-month market performance down to -27.68% lower. It has a 12-month low price of $120.75 and touched a high of $181.70 over the same period. TGT has an average intraday trading volume of 4.92 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.32%, -7.61%, and -19.73% respectively.
Institutional ownership of Target Corporation (NYSE: TGT) shares accounts for 81.90% of the company’s 461.60M shares outstanding. Mutual fund holders own 39.40%, while other institutional holders and individual stakeholders account for 42.21% and 1.06% respectively.
It has a market capitalization of $55.86B and a beta (3y monthly) value of 1.01. The stock’s trailing 12-month PE ratio is 16.37, while the earnings-per-share (ttm) stands at $7.29. The company has a PEG of 0.90 and a Quick Ratio of 0.20 with the debt-to-equity ratio at 1.34. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.87% over the week and 2.07% over the month.
Analysts forecast that Target Corporation (TGT) will achieve an EPS of $1.48 for the current quarter, $2.26 for the next quarter and $9 for 2025. The lowest estimate earnings-per-share for the quarter is $1.2 while analysts give the company a high EPS estimate of $1.8. Comparatively, EPS for the current quarter was $1.54 a year ago. Earnings per share for the fiscal year are expected to decrease by -57.60%, and 18.41% over the next financial year. EPS should grow at an annualized rate of 18.27% over the next five years, compared to 5.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 35 brokerage firm advisors rate Target Corporation (TGT) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 22 of the 35 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TGT, a number of firms have released research notes about the stock. Daiwa Securities stated their Neutral rating for the stock in a research note on August 22, 2023, with the firm’s price target at $134.