Federated Hermes Inc. Cuts Position in Target Co. (NYSE:TGT)

Federated Hermes Inc. cut its stake in Target Co. (NYSE:TGT) by 23.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,735 shares of the retailer’s stock after selling 27,878 shares during the quarter. Federated Hermes Inc.’s holdings in Target were worth $13,728,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Target by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock worth $6,401,142,000 after buying an additional 417,818 shares during the last quarter. Franklin Resources Inc. grew its stake in Target by 1.5% during the 4th quarter. Franklin Resources Inc. now owns 9,531,846 shares of the retailer’s stock worth $1,357,525,000 after buying an additional 137,180 shares during the last quarter. Victory Capital Management Inc. grew its stake in Target by 11.4% during the 2nd quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after buying an additional 440,307 shares during the last quarter. Clearbridge Investments LLC grew its stake in Target by 17.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after buying an additional 470,647 shares during the last quarter. Finally, Putnam Investments LLC grew its stake in Target by 1.1% during the 4th quarter. Putnam Investments LLC now owns 2,694,354 shares of the retailer’s stock worth $383,730,000 after buying an additional 28,681 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Stock Performance

NYSE TGT opened at $152.92 on Tuesday. The stock has a market capitalization of $70.75 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.90 and a beta of 1.24. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average of $148.10 and a 200 day moving average of $155.07.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same period in the previous year, the business earned $1.80 EPS. Target’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that Target Co. will post 9.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TGT shares. Roth Mkm boosted their target price on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Telsey Advisory Group boosted their price target on Target from $190.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Morgan Stanley reiterated an “overweight” rating and set a $180.00 price target on shares of Target in a research note on Wednesday, August 21st. Finally, TD Cowen boosted their price target on Target from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.68.

Insiders Place Their Bets

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

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.