Jacobs & Co. CA Reduces Holdings in Target Co. (NYSE:TGT)

Jacobs & Co. CA trimmed its stake in Target Co. (NYSE:TGT) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,735 shares of the retailer’s stock after selling 713 shares during the period. Jacobs & Co. CA’s holdings in Target were worth $2,339,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TGT. Healthcare of Ontario Pension Plan Trust Fund grew its position in Target by 3,577.5% during the 1st 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 last quarter. Zions Bancorporation N.A. grew its position in Target by 3.3% during the 1st 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 last quarter. Covestor Ltd grew its position in Target by 131.7% during the 1st quarter. Covestor Ltd now owns 702 shares of the retailer’s stock worth $149,000 after purchasing an additional 399 shares during the last quarter. Merit Financial Group LLC purchased a new position in Target during the 1st quarter worth $208,000. Finally, Ergoteles LLC grew its position in Target by 191.5% during the 1st quarter. Ergoteles LLC now owns 11,794 shares of the retailer’s stock worth $2,503,000 after purchasing an additional 7,748 shares during the last quarter. 78.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Target

In other news, insider Brian C. Cornell sold 30,000 shares of Target stock in a transaction dated 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 sale, the insider now directly owns 399,669 shares in the company, valued at $52,236,738.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Target Stock Performance

Shares of TGT opened at $121.20 on Monday. The stock has a market cap of $55.95 billion, a P/E ratio of 16.90, a PEG ratio of 1.15 and a beta of 1.01. Target Co. has a 12-month low of $120.75 and a 12-month high of $181.70. The company has a current ratio of 0.83, a quick ratio of 0.18 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average of $129.09 and a two-hundred day moving average of $142.93.

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

Analyst Ratings Changes

TGT has been the topic of several research reports. Bank of America lowered their price objective on shares of Target from $145.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, August 17th. Truist Financial reduced their target price on shares of Target from $137.00 to $133.00 and set a “hold” rating for the company in a research note on Thursday, August 17th. DA Davidson restated a “buy” rating and issued a $193.00 target price on shares of Target in a research note on Wednesday, August 16th. Wells Fargo & Company reduced their target price on shares of Target from $165.00 to $135.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 9th. Finally, Piper Sandler reduced their target price on shares of Target from $220.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, August 14th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $159.21.

Target Profile

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.