The Vanguard Group, Inc. has recently announced that it has increased stake in Target Corp (NYSE:TGT) by 1.45%. After grabbing 42.5 million shares, the institutional investor is now in possession of 0.61 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 9.21% having worth around $4.71 billion. Moreover, SSgA Funds Management, Inc. increased its share by 0.79 million to have a control over 34.87 million shares. And BlackRock Fund Advisors raised its holdings to 0.11 million shares by acquiring 21.26 million shares or 4.61% of the stake.
Target Corp (TGT) concluded trading on 12/14/23 at a closing price of $141.14, with 4.63 million shares of worth about $653.92 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 2.39% during that period and on Thursday the price saw a gain of about 1.99%. Currently the company’s common shares owned by public are about 461.66M shares, out of which, 460.50M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 114 times over the past 12 months. They bought 489,144 shares in 49 of the transactions. In 65 selling transactions, insiders dumped 326,832 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 Corp Vanguard Total Stock Market ETF is currently holding 14.45 million shares of worth totaling $1.6 billion. The company recently came buying 66102.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Vanguard 500 Index Fund bought 54935.0 shares, after which its hold over company’s outstanding shares expand to 2.42%, leaving 11.15 million shares with the mutual fund that have a worth of about $1.24 billion. Washington Mutual Investors Fund, after selling 9.53 million shares, have now control over 2.06% of the stake in the company. It holds -0.25 million shares of worth $1.06 billion.
However, the stock later moved at a day high price of 142.20, or with a gain of 1.99%. Stock saw a price change of 4.40% in past 5 days and over the past one month there was a price change of 27.39%. Year-to-date (YTD), TGT shares are showing a performance of -5.30% which decreased to -6.45% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $102.93 but also hit the highest price of $181.70 during that period. The average intraday trading volume for Target Corp shares is 5.03 million. The stock is currently trading 6.25% above its 20-day simple moving average (SMA20), while that difference is up 18.91% for SMA50 and it goes to 4.36% higher than SMA200.
The Vanguard Group, Inc. acquired 42.5 million shares of Target Corp having value of about $4.71 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.61 million shares in the company valued at close to $86010574.86, or have control over 1.45% stake in the company. Target Corp (NYSE: TGT) currently have 461.66M outstanding shares and institutions hold larger chunk of about 79.47% of that. Holding of mutual funds in the company is about 38.85% while other institutional holders and individual stake holders have control over 41.13% and 1.06% of the stake respectively.
The stock has a current market capitalization of $65.16B and its 3Y-monthly beta is at 1.12. PE ratio of stock for trailing 12 months is 17.98, while it has posted earnings per share of $7.85 in the same period. Its PEG reads 0.89 and has Quick Ratio of 0.18 while making debt-to-equity ratio of 1.55. 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 1.60% while standing at 1.86% over the month.
Analysts are in expectations that Target Corp (TGT) stock would likely to be making an EPS of $2.39 in the current quarter, while forecast for next quarter EPS is $2.11 and it is $9.08 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.9 which is $2.6 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 $1.89 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 37.82% while it is estimated to increase by 9.08% in next year. EPS is likely to grow at an annualized rate of 20.27% for next 5-years, compared to annual growth of 2.47% 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 Telsey Advisory Group on November 16, 2023 offering an Outperform rating for the stock and assigned a target price range of between $145 and $160 to it.
