EverSource Wealth Advisors LLC Acquires 100 Shares of Target Co. (NYSE:TGT)

EverSource Wealth Advisors LLC grew its holdings in shares of Target Co. (NYSE:TGTGet Rating) by 83.3% in the first quarter, Holdings Channel.com reports. The firm owned 220 shares of the retailer’s stock after buying an additional 100 shares during the period. EverSource Wealth Advisors LLC’s holdings in Target were worth $47,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Target by 1.4% during the first quarter. Vanguard Group Inc. now owns 43,254,086 shares of the retailer’s stock worth $9,179,381,000 after purchasing an additional 589,926 shares during the period. State Street Corp boosted its position in shares of Target by 0.5% in the fourth quarter. State Street Corp now owns 35,922,818 shares of the retailer’s stock valued at $8,313,977,000 after acquiring an additional 191,484 shares during the period. Capital World Investors boosted its position in shares of Target by 22.9% in the fourth quarter. Capital World Investors now owns 8,941,995 shares of the retailer’s stock valued at $2,069,535,000 after acquiring an additional 1,666,948 shares during the period. Geode Capital Management LLC boosted its position in shares of Target by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 8,187,017 shares of the retailer’s stock valued at $1,890,357,000 after acquiring an additional 157,019 shares during the period. Finally, Norges Bank bought a new position in shares of Target in the fourth quarter valued at approximately $1,094,330,000. Institutional investors own 77.42% of the company’s stock.

Target Stock Performance

NYSE:TGT opened at $164.09 on Friday. The stock has a market cap of $75.52 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 2.06 and a beta of 1.02. The firm’s fifty day simple moving average is $162.75 and its 200 day simple moving average is $183.74. Target Co. has a twelve month low of $137.16 and a twelve month high of $268.98. The company has a quick ratio of 0.14, a current ratio of 0.82 and a debt-to-equity ratio of 1.27.

Target (NYSE:TGTGet Rating) last released its quarterly earnings results on Wednesday, August 17th. The retailer reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.33). The company had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $26.07 billion. Target had a net margin of 3.92% and a return on equity of 35.15%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.64 EPS. As a group, research analysts predict that Target Co. will post 8.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Piper Sandler assumed coverage on shares of Target in a research report on Friday, July 22nd. They issued a “neutral” rating and a $190.00 price objective for the company. MKM Partners lowered their target price on shares of Target from $163.00 to $161.00 and set a “neutral” rating on the stock in a research note on Thursday, August 18th. TheStreet downgraded shares of Target from a “b-” rating to a “c+” rating in a research note on Friday, June 24th. The Goldman Sachs Group raised their target price on shares of Target from $155.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Finally, DA Davidson raised their target price on shares of Target to $203.00 in a research note on Monday, August 22nd. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $193.67.

Insider Activity

In other news, CAO Matthew A. Liegel sold 1,226 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $173.80, for a total transaction of $213,078.80. Following the sale, the chief accounting officer now owns 2,812 shares in the company, valued at approximately $488,725.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider John J. Mulligan sold 39,101 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $166.02, for a total transaction of $6,491,548.02. Following the sale, the insider now owns 118,425 shares in the company, valued at approximately $19,660,918.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Matthew A. Liegel sold 1,226 shares of Target stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $173.80, for a total value of $213,078.80. Following the completion of the transaction, the chief accounting officer now directly owns 2,812 shares of the company’s stock, valued at approximately $488,725.60. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

About Target

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

Further Reading

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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