Brown Brothers Harriman & Co. is reducing its position in Target Co. (NYSE: TGT)

VaselineSeptember 17, 2024

0 4 minutes read

Target logo Brown Brothers Harriman & Co. reduced its holdings in Target Co. (NYSE:TGT – Free Report) by 1.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,894 shares of the retailer’s stock after selling 517 shares during the quarter. The holdings of Brown Brothers Harriman & Co. holdings in Target were worth $4,722,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Little House Capital LLC bought a new stake in shares of Target in the first quarter worth about $1,041,000. Nordea Investment Management AB raised its position in Target by 23.6% in the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after buying an additional 122,706 shares during the period. QRG Capital Management Inc. boosted its holdings in Target by 11.4% in the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after buying an additional 6,690 shares in the last quarter. Janney Capital Management LLC bought a new stake in Target in the first quarter worth about $13,958,000. Finally, United Services Automobile Association raised its stake in Target by 134.6% during the 4th quarter. United Services Automobile Association now owns 103,785 shares of the retailer’s stock, valued at $14,781,000 after bought an additional 59,553 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s shares.

Analyst upgrades and downgrades

TGT has been the subject of a number of research reports. Robert W. Baird restated an “outperform” rating and issued a $190.00 target price on shares of Target in a research note on Thursday, May 23rd. BNP Paribas started coverage on Target in a research report on Monday, June 3rd. They issued an “underperform” rating and a $116.00 target price on the stock. Citigroup upped their target price on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Bank of America raised their price objective on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Finally, Daiwa America upgraded shares of Target to a “strong-buy” rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Target has an average rating of “Moderate Buy” and an average target price of $179.68, according to data from MarketBeat.

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Target stock performance

NYSE TGT opened at $152.92 on Tuesday. The stock has a market cap of $70.75 billion, a PE ratio of 17.16, a P/E/G ratio of 1.90 and a beta of 1.24. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The company has a 50 day simple moving average of $148.10 and a two hundred day simple moving average of $155.07. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90, and a quick ratio of 0.27.

Target (NYSE:TGT – Get Free Report ) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s quarterly revenue was up 1.0% on a year-over-year basis. In the same quarter last year, the business posted earnings of $1.80 per share. On average, research analysts predict that Target Co. will post 9.53 EPS for the current fiscal year.

Insider trades at target

In related news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The sale was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s shares.

Profile of the target company

(Free report)

Target Corporation operates as a general merchandise distributor in the United States. The company offers clothing 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.