Plato Investment Management Ltd Cuts Stock Position in Target Corporation $TGT

Key Points

• Plato Investment Management Ltd reduced its stock position in Target Corporation by 29.7%, ending with 14,773 shares valued at approximately $1.56 million after selling 6,241 shares.
• Target reported earnings of $2.05 per share in its latest quarterly results, exceeding analyst expectations, although revenue decreased by 0.9% year-over-year.
• Wall Street analysts have mixed views on Target's stock, with a consensus target price of $113.74 and ratings ranging from buy to sell across various firms.

Plato Investment Management Ltd decreased its holdings in Target Corporation (NYSE:TGT - Free Report) by 29.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,773 shares of the retailer's stock after selling 6,241 shares during the quarter. Plato Investment Management Ltd's holdings in Target were worth $1,558,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Bernard Wealth Management Corp. purchased a new position in Target in the 4th quarter valued at approximately $29,000. Heck Capital Advisors LLC acquired a new stake in shares of Target in the fourth quarter valued at $40,000. WPG Advisers LLC purchased a new position in Target in the first quarter valued at $32,000. Mascagni Wealth Management Inc. acquired a new position in Target during the 4th quarter worth $49,000. Finally, 1248 Management LLC purchased a new stake in Target during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 79.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Truist Financial increased their price target on Target from $90.00 to $107.00 and gave the company a "hold" rating in a research report on Wednesday, August 13th. Guggenheim reiterated a "buy" rating and issued a $115.00 price target on shares of Target in a research note on Thursday, August 21st. Telsey Advisory Group reissued a "market perform" rating and issued a $110.00 price objective on shares of Target in a research report on Wednesday, August 20th. Morgan Stanley reduced their price objective on shares of Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Finally, Mizuho lowered their target price on shares of Target from $92.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Ten research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Target has an average rating of "Hold" and a consensus target price of $113.74.

Target Trading Down 0.1%

NYSE TGT opened at $90.81 on Thursday. The firm's fifty day moving average price is $101.05 and its 200 day moving average price is $100.64. Target Corporation has a 12 month low of $87.35 and a 12 month high of $161.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The company has a market capitalization of $41.26 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.01. The company had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. Target had a net margin of 3.72% and a return on equity of 23.43%. Target's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. On average, sell-side analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

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.

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