Target Corporation $TGT Stake Boosted by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Target Corporation by 38.8% in Q1, holding nearly 101,000 shares valued at approximately $10.5 million.
• Analysts have provided mixed ratings for Target, with price targets ranging from $90.00 to $130.00, resulting in an average rating of "Hold" across 36 analysts.
• In its most recent earnings report, Target posted an EPS of $2.05, slightly exceeding analysts' expectations, despite a 0.9% decline in year-over-year revenue.

Intech Investment Management LLC grew its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 38.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,917 shares of the retailer's stock after acquiring an additional 28,214 shares during the period. Intech Investment Management LLC's holdings in Target were worth $10,532,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TGT. Charles Schwab Investment Management Inc. boosted its holdings in Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer's stock worth $1,666,672,000 after purchasing an additional 12,825,586 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Target by 1,364.3% in the first quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer's stock worth $343,312,000 after purchasing an additional 3,065,035 shares in the last quarter. Nuveen LLC bought a new stake in Target in the first quarter worth $186,361,000. Goldman Sachs Group Inc. boosted its holdings in Target by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer's stock worth $560,420,000 after purchasing an additional 1,406,653 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Target by 572.8% in the first quarter. Assenagon Asset Management S.A. now owns 1,223,965 shares of the retailer's stock worth $127,733,000 after purchasing an additional 1,042,047 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TGT has been the subject of a number of recent research reports. UBS Group decreased their price objective on shares of Target from $135.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, August 21st. Bank of America reiterated an "underperform" rating and issued a $93.00 price objective (down from $105.00) on shares of Target in a report on Friday, August 15th. The Goldman Sachs Group decreased their price objective on shares of Target from $101.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Piper Sandler reissued a "neutral" rating on shares of Target in a research report on Tuesday, July 29th. Finally, Jefferies Financial Group cut their target price on shares of Target from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, August 20th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Target currently has an average rating of "Hold" and an average target price of $113.74.

Target Stock Down 0.1%

Shares of TGT opened at $90.81 on Thursday. The company has a 50-day simple moving average of $101.05 and a 200-day simple moving average of $100.64. The firm has a market capitalization of $41.26 billion, a P/E ratio of 10.58, a P/E/G ratio of 2.62 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. Target Corporation has a 52 week low of $87.35 and a 52 week high of $161.50.

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

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Corporation (NYSE:TGT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.