Manning & Napier Advisors LLC Grows Holdings in Target Corporation $TGT

Manning & Napier Advisors LLC boosted its position in Target Corporation (NYSE:TGT) by 225.0% in the third quarter, HoldingsChannel reports. The firm owned 65,000 shares of the retailer’s stock after buying an additional 45,000 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Target were worth $5,830,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. WFA of San Diego LLC purchased a new position in shares of Target in the 2nd quarter worth approximately $25,000. Raleigh Capital Management Inc. increased its position in shares of Target by 63.4% during the second quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after acquiring an additional 102 shares during the last quarter. Kozak & Associates Inc. lifted its holdings in Target by 2,530.0% during the second quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock worth $27,000 after acquiring an additional 253 shares during the period. Heartwood Wealth Advisors LLC purchased a new position in Target in the third quarter worth $27,000. Finally, Investment Research & Advisory Group Inc. purchased a new position in Target in the second quarter worth $29,000. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

NYSE TGT opened at $109.78 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.97 and a debt-to-equity ratio of 0.99. The company has a market cap of $49.71 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 11.82 and a beta of 1.12. Target Corporation has a 52 week low of $83.44 and a 52 week high of $145.08. The firm’s 50-day simple moving average is $95.07 and its two-hundred day simple moving average is $96.03.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.07. The firm had revenue of $25.27 billion during the quarter, compared to the consensus estimate of $25.44 billion. Target had a net margin of 3.58% and a return on equity of 22.74%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Research analysts predict that Target Corporation will post 8.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TGT shares. Wolfe Research reaffirmed an “underperform” rating and set a $81.00 target price on shares of Target in a research report on Tuesday, December 30th. JPMorgan Chase & Co. reduced their price target 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. Piper Sandler restated a “neutral” rating and set a $85.00 price objective (down previously from $94.00) on shares of Target in a report on Thursday, November 20th. Argus lowered their price objective on shares of Target from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, December 1st. Finally, Truist Financial boosted their target price on shares of Target from $83.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, November 20th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $103.23.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.