Massachusetts Financial Services Co. MA Raises Stock Holdings in Target Co. (NYSE:TGT)

Massachusetts Financial Services Co. MA lifted its holdings in shares of Target Co. (NYSE:TGT) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,238,225 shares of the retailer’s stock after acquiring an additional 5,651 shares during the period. Massachusetts Financial Services Co. MA owned 2.21% of Target worth $1,515,667,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TGT. Triad Wealth Partners LLC acquired a new position in Target in the second quarter valued at $25,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Target during the fourth quarter worth about $28,000. Slocum Gordon & Co LLP purchased a new position in shares of Target during the second quarter worth about $28,000. Scarborough Advisors LLC acquired a new position in Target in the 4th quarter valued at about $29,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Target during the 2nd quarter valued at approximately $31,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Telsey Advisory Group boosted their target price on Target from $190.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Daiwa America raised shares of Target to a “strong-buy” rating in a research note on Monday, August 26th. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research note on Monday, August 26th. Evercore ISI boosted their price target on shares of Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research note on Thursday, August 22nd. Finally, Truist Financial raised their price objective on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Target presently has an average rating of “Moderate Buy” and an average target price of $179.68.

Target Price Performance

Target stock opened at $151.36 on Monday. The firm’s 50-day moving average is $148.02 and its two-hundred day moving average is $155.07. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The stock has a market capitalization of $70.02 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.90 and a beta of 1.24. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86.

Target (NYSE:TGT) last released its earnings results 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 net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the previous year, the company earned $1.80 EPS. Target’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts predict that Target Co. will post 9.53 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following 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 legal filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were 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 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 currently owned by company insiders.

Target Company 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.