Sanders Morris Harris LLC Purchases New Stake in Target Corporation $TGT

Sanders Morris Harris LLC acquired a new position in shares of Target Corporation (NYSE:TGT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,291 shares of the retailer’s stock, valued at approximately $2,986,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Target by 14.7% during the 2nd quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock valued at $5,074,984,000 after acquiring an additional 6,607,982 shares during the period. State Street Corp lifted its stake in Target by 4.3% in the second quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock valued at $3,624,016,000 after purchasing an additional 1,529,026 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Target by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 16,247,590 shares of the retailer’s stock valued at $1,602,825,000 after purchasing an additional 277,176 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Target in the second quarter worth $595,839,000. Finally, Norges Bank purchased a new stake in Target in the second quarter worth $578,009,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TGT shares. Wolfe Research assumed coverage on Target in a research report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price target on the stock. Cowen restated a “hold” rating on shares of Target in a research note on Monday, November 10th. JPMorgan Chase & Co. cut their target price on shares of Target from $117.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Argus reduced their target price on shares of Target from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, December 1st. Finally, TD Cowen lowered their price target on shares of Target from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, November 20th. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Target presently has a consensus rating of “Hold” and a consensus target price of $102.62.

Target Stock Up 0.1%

TGT stock opened at $97.68 on Wednesday. The stock has a 50-day simple moving average of $91.37 and a two-hundred day simple moving average of $95.41. Target Corporation has a twelve month low of $83.44 and a twelve month high of $145.08. The firm has a market capitalization of $44.23 billion, a PE ratio of 11.85, a PEG ratio of 10.62 and a beta of 1.13. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. The company had revenue of $25.27 billion during the quarter, compared to analyst estimates of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. Target’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business earned $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, equities analysts predict 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.