QRG Capital Management Inc. Has $5.15 Million Holdings in Target Corporation $TGT

QRG Capital Management Inc. lessened its holdings in Target Corporation (NYSE:TGT) by 27.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,372 shares of the retailer’s stock after selling 22,084 shares during the quarter. QRG Capital Management Inc.’s holdings in Target were worth $5,146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. JNBA Financial Advisors boosted its stake in Target by 3.0% in the second quarter. JNBA Financial Advisors now owns 3,347 shares of the retailer’s stock valued at $330,000 after acquiring an additional 96 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its position in shares of Target by 32.3% during the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 401 shares of the retailer’s stock valued at $41,000 after acquiring an additional 98 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its stake in shares of Target by 0.6% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 17,618 shares of the retailer’s stock valued at $1,738,000 after purchasing an additional 100 shares during the period. Raleigh Capital Management Inc. boosted its position in shares of Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock worth $26,000 after purchasing an additional 102 shares during the last quarter. Finally, Binnacle Investments Inc boosted its position in shares of Target by 11.4% in the 2nd quarter. Binnacle Investments Inc now owns 1,013 shares of the retailer’s stock worth $100,000 after purchasing an additional 104 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on TGT shares. TD Cowen dropped their price objective on Target from $105.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, November 20th. DA Davidson set a $120.00 target price on Target in a research report on Monday, January 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 price target on shares of Target in a research report on Thursday, December 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Target in a research note on Wednesday, October 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $85.00 target price (down previously from $94.00) on shares of Target in a research note on Thursday, November 20th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Target has an average rating of “Hold” and an average price target of $103.67.

Target Stock Performance

Shares of TGT stock opened at $111.19 on Monday. 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 company has a market capitalization of $50.35 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 12.10 and a beta of 1.12. The company’s 50 day moving average price is $95.91 and its two-hundred day moving average price is $96.10. Target Corporation has a 52 week low of $83.44 and a 52 week high of $145.08.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.07. Target had a net margin of 3.58% and a return on equity of 22.74%. The company had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $25.44 billion. During the same quarter in the prior year, the company earned $1.85 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

About Target

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.