Target Co. (NYSE:TGT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in Target Co. (NYSE:TGT) by 35.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 169,483 shares of the retailer’s stock after selling 94,502 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Target were worth $25,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new position in shares of Target in the second quarter valued at approximately $25,000. Washington Trust Advisors Inc. raised its holdings in Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Slocum Gordon & Co LLP purchased a new position in shares of Target during the 2nd quarter worth $28,000. Retirement Group LLC boosted its holdings in shares of Target by 85.0% during the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock worth $35,000 after purchasing an additional 91 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Target in the fourth quarter valued at $28,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Evercore ISI increased their target price on Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research report on Thursday, August 22nd. Jefferies Financial Group raised their target price on shares of Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Piper Sandler began coverage on shares of Target in a research report on Wednesday, July 10th. They set a “neutral” rating and a $156.00 price target for the company. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price target on shares of Target in a report on Wednesday, August 21st. Finally, Truist Financial upped their price objective on Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Target has a consensus rating of “Moderate Buy” and an average target price of $179.68.

Target Price Performance

TGT stock opened at $148.47 on Friday. The company has a market capitalization of $68.69 billion, a PE ratio of 16.66, a P/E/G ratio of 1.95 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average is $147.91 and its two-hundred day moving average is $155.01. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.80 EPS. Analysts predict that Target Co. will post 9.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

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.