The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Target Corporation shares valued at $6,367,896 were sold by Mulligan John J on Jun 17. At $139.98 per share, Mulligan John J sold 45,490 shares. The insider’s holdings dropped to 157,333 shares worth approximately $26.21 million following the completion of this transaction.
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Also, Kremer Melissa K sold 8,602 shares, netting a total of over 2,150,500 in proceeds. Following the sale of shares at $250.00 each, the insider now holds 9,909 shares.
Before that, SANDO JILL had sold 2,000 shares from its account. In a trade valued at $500,000, the Executive Officer traded Target Corporation shares for $250.00 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $4.2 million.
As published in a research note from Wells Fargo on August 01, 2022, Target Corporation [TGT] has been rated up from an Equal weight to an Overweight and the price target has been revised to $195. This represents a 14.58% premium over Thursday’s closing price. Analysts at Piper Sandler started covering the stock with ‘”a Neutral”‘ outlook in a report released in late July. As of June 08, 2022, UBS has reiterated its “Buy” rating for TGT. Earlier on June 08, 2022, Robert W. Baird resumed its rating. Their recommendation was “an Outperform” for TGT stock.
Analyzing TGT’s Price Performance
On Thursday, Target Corporation [NYSE: TGT] plunged -0.81% to $166.56. The stock’s lowest price that day was $165.7302, but it reached a high of $168.50 in the same session. During the last five days, there has been a surge of approximately 4.48%. Over the course of the year, Target Corporation shares have dropped approximately -28.03%. Shares of the company reached a 52-week high of $254.87 on 04/21/22 and a 52-week low of $137.16 on 06/30/22. A 50-day SMA is recorded $152.34, while a 200-day SMA reached $208.73. Nevertheless, trading volume fell to 3.15 million shares from 4.06 million shares the previous day.
Support And Resistance Levels for Target Corporation (TGT)
According to the 24-hour chart, there is a support level at 165.36, which, if violated, would cause prices to drop to 164.16. In the upper region, resistance lies at 168.13. The next price resistance is at 169.70. RSI (Relative Strength Index) is 62.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 7.00, which suggests the price will increase in the coming days. Percent R is at 14.13%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Target Corporation subject to short interest?
Stocks of Target Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.85 million shares to 7.14 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.99 million shares. A decline of -25.91% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.58 of the overall float, the days-to-cover ratio (short ratio) decline to 1.58.
Which companies own the most shares of Target Corporation (TGT)?
According to The Vanguard Group, Inc. filings, the company currently owns 41,341,510 shares, which is about 8.92% of the total TGT shares outstanding. The investor’s shares have appreciated by 674,824 from its previous 13-F filing of 40666686.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $5,049,969,584. BlackRock Fund Advisors reduced a -2.17% interest valued at $3.66 billion while Capital Research & Management Co sold a -322,925 stake. A total of -116,532 shares of Target Corporation were sold by Geode Capital Management LLC during the quarter, and -145,711 were sold by Wells Fargo Clearing Services LLC. In its current portfolio, Columbia Management Investment Ad holds 7,306,570 shares valued at $1.03 billion.
In terms of Target Corporation share price expectations, FactSet research, analysts set an average price target of $184.52 in the next 12 months, up nearly 10.17% from the previous closing price of $167.92. Analysts anticipate Target Corporation stock to reach $231.00 by 2022, with the lowest price target being $150.00. In spite of this, 31 analysts ranked Target Corporation stock as an Overweight at the end of 2022. On June 08, 2022, RBC Capital Mkts assigned a price target of “an Outperform” to the stock and reiterated coverage with a $231.