Pacer Advisors Inc. Sells 466,551 Shares of Target Corporation $TGT

Pacer Advisors Inc. lowered its position in Target Corporation (NYSE:TGT) by 16.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,402,839 shares of the retailer’s stock after selling 466,551 shares during the period. Pacer Advisors Inc.’s holdings in Target were worth $215,535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TGT. Whitener Capital Management Inc. grew its position in Target by 5.1% in the third quarter. Whitener Capital Management Inc. now owns 4,940 shares of the retailer’s stock worth $443,000 after acquiring an additional 240 shares in the last quarter. Jeppson Wealth Management LLC raised its holdings in shares of Target by 23.0% during the 3rd quarter. Jeppson Wealth Management LLC now owns 5,242 shares of the retailer’s stock valued at $470,000 after purchasing an additional 979 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC acquired a new stake in shares of Target in the 3rd quarter valued at $217,000. Private Trust Co. NA boosted its holdings in Target by 3.5% in the third quarter. Private Trust Co. NA now owns 8,132 shares of the retailer’s stock worth $729,000 after purchasing an additional 273 shares in the last quarter. Finally, Founders Financial Securities LLC boosted its holdings in Target by 4.7% in the third quarter. Founders Financial Securities LLC now owns 6,271 shares of the retailer’s stock worth $563,000 after purchasing an additional 282 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on Target from $117.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, November 10th. Wolfe Research began coverage on Target in a report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price objective on the stock. Royal Bank Of Canada cut their price objective on Target from $107.00 to $99.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Zacks Research upgraded Target from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, Mizuho decreased their target price on Target from $94.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, November 20th. Ten investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $102.62.

Target Price Performance

Target stock opened at $96.47 on Friday. The business’s fifty day moving average is $92.48 and its two-hundred day moving average is $95.50. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.27 and a current ratio of 0.97. The firm has a market cap of $43.68 billion, a P/E ratio of 11.71, a P/E/G ratio of 10.50 and a beta of 1.13. Target Corporation has a 52 week low of $83.44 and a 52 week high of $145.08.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share 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 return on equity of 22.74% and a net margin of 3.58%.The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Equities research analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Company 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.