Jacobs & Co. CA Trims Stake in Target Corporation $TGT

Key Points

• Jacobs & Co. CA reduced its stake in Target Corporation by 51.1% during the 2nd quarter, now holding 9,011 shares valued at $888,000.
• Several institutional investors increased their positions in Target, with Charles Schwab's stake growing by 407.8% in the first quarter.
• Target's recent earnings report showed a slight revenue decline of 0.9% year-over-year, with earnings per share at $2.05, narrowly beating estimates.

Jacobs & Co. CA lowered its position in Target Corporation (NYSE:TGT - Free Report) by 51.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,011 shares of the retailer's stock after selling 9,429 shares during the quarter. Jacobs & Co. CA's holdings in Target were worth $888,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock valued at $1,666,672,000 after acquiring an additional 12,825,586 shares during the period. Goldman Sachs Group Inc. increased its stake in Target by 35.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock worth $560,420,000 after buying an additional 1,406,653 shares during the period. Dimensional Fund Advisors LP increased its stake in Target by 7.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,194,231 shares of the retailer's stock worth $542,020,000 after buying an additional 370,967 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Target by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,028,486 shares of the retailer's stock worth $420,413,000 after buying an additional 229,670 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Target by 14.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,798,816 shares of the retailer's stock worth $513,524,000 after buying an additional 477,761 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Target from $105.00 to $109.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada raised their price target on shares of Target from $104.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Jefferies Financial Group reduced their price target on shares of Target from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. BMO Capital Markets reduced their price target on shares of Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research note on Thursday, May 22nd. Finally, Evercore ISI reduced their price target on shares of Target from $108.00 to $106.00 and set an "in-line" rating on the stock in a research note on Thursday, August 21st. Ten research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $113.74.

Target Trading Down 1.6%

NYSE TGT opened at $90.03 on Friday. Target Corporation has a one year low of $87.35 and a one year high of $161.50. The company has a market capitalization of $40.91 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 2.64 and a beta of 1.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The company's 50-day simple moving average is $100.52 and its two-hundred day simple moving average is $100.14.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion for the quarter, compared to analysts' expectations of $24.84 billion. During the same period last year, the business earned $2.57 EPS. The company's revenue was down .9% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

About Target

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.

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