Target Co. (NYSE:TGT) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp reduced its stake in shares of Target Co. (NYSE:TGT) by 31.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,419 shares of the retailer’s stock after selling 7,141 shares during the period. Atlantic Union Bankshares Corp’s holdings in Target were worth $2,034,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its stake in Target by 95,980.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock worth $2,762,865,000 after acquiring an additional 18,518,448 shares during the period. Norges Bank purchased a new stake in Target in the 4th quarter worth approximately $725,870,000. Parnassus Investments LLC grew its stake in Target by 329.1% in the 1st quarter. Parnassus Investments LLC now owns 2,703,360 shares of the retailer’s stock worth $447,758,000 after acquiring an additional 2,073,315 shares during the period. Amundi grew its stake in Target by 102.5% in the 4th quarter. Amundi now owns 3,145,204 shares of the retailer’s stock worth $499,993,000 after acquiring an additional 1,592,285 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Target by 252.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,166,161 shares of the retailer’s stock worth $358,782,000 after acquiring an additional 1,551,551 shares during the period. 78.33% of the stock is currently owned by institutional investors and hedge funds.

Target Trading Down 3.0 %

Target stock opened at $119.34 on Tuesday. The firm has a 50 day simple moving average of $129.09 and a 200-day simple moving average of $142.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.83 and a quick ratio of 0.18. The stock has a market capitalization of $55.09 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.15 and a beta of 1.01. Target Co. has a 12-month low of $118.55 and a 12-month high of $181.70.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 16th. The retailer reported $1.80 EPS for the quarter, beating the consensus estimate of $1.41 by $0.39. Target had a net margin of 3.12% and a return on equity of 29.43%. The business had revenue of $24.77 billion during the quarter, compared to analyst estimates of $25.18 billion. During the same period in the prior year, the business earned $0.39 earnings per share. The business’s quarterly revenue was down 4.9% on a year-over-year basis. As a group, equities research analysts expect that Target Co. will post 7.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Piper Sandler lowered their price objective on shares of Target from $220.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, August 14th. Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and set a $134.00 price objective for the company. in a research note on Tuesday, August 22nd. Citigroup cut shares of Target from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $177.00 to $130.00 in a research note on Friday, June 9th. StockNews.com raised shares of Target from a “hold” rating to a “buy” rating in a research report on Thursday, September 14th. Finally, BMO Capital Markets cut their price objective on shares of Target from $140.00 to $130.00 and set a “market perform” rating on the stock in a report on Thursday, August 17th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $159.21.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 30,000 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $130.70, for a total transaction of $3,921,000.00. Following the completion of the sale, the insider now directly owns 399,669 shares of the company’s stock, valued at $52,236,738.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

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.