Target Corporation [TGT] stock for 6,491,609 USD was sold by Mulligan John J

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Target Corporation shares valued at $6,491,609 were sold by Mulligan John J on Sep 14. At $166.02 per share, Mulligan John J sold 39,101 shares. The insider’s holdings dropped to 118,425 shares worth approximately $18.11 million following the completion of this transaction.

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Also, LIEGEL MATTHEW A sold 1,226 shares, netting a total of over 213,084 in proceeds. Following the sale of shares at $173.80 each, the insider now holds 2,812 shares.

Before that, Mulligan John J had sold 45,490 shares from its account. In a trade valued at $6,367,896, the Executive Officer traded Target Corporation shares for $139.98 each. Upon closing the transaction, the insider’s holdings decreased to 45,490 shares, worth approximately $24.07 million.

As published in their initiating research note from KeyBanc Capital Markets on September 14, 2022, Target Corporation [TGT] has been an Overweight and the price target has been revised to $200. This represents a 23.52% premium over Thursday’s closing price. Analysts at Truist resumed the stock at ‘”a Hold”‘ outlook in a report released in mid August. As of August 18, 2022, RBC Capital Mkts has reiterated its “an Outperform” rating for TGT. Earlier on August 18, 2022, Raymond James resumed its rating. Their recommendation was “a Strong buy” for TGT stock.

Analyzing TGT’s Price Performance

On Thursday, Target Corporation [NYSE: TGT] plunged -3.82% to $152.96. The stock’s lowest price that day was $152.64, but it reached a high of $158.43 in the same session. During the last five days, there has been a drop of approximately -7.30%. Over the course of the year, Target Corporation shares have dropped approximately -33.91%. 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 $163.47, while a 200-day SMA reached $193.87. Nevertheless, trading volume fell to 3.97 million shares from 2.81 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 150.92, which, if violated, would cause prices to drop to 148.89. In the upper region, resistance lies at 156.71. The next price resistance is at 160.47. RSI (Relative Strength Index) is 34.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.08, which suggests the price will decrease in the coming days. Percent R is at 98.64%, indicating bearish price movement. Stochastics %K at buying 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 40,579,476 shares, which is about 8.82% of the total TGT shares outstanding. The investor’s shares have plunged by -762,034 from its previous 13-F filing of 41341510.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $5,345,643,405. BlackRock Fund Advisors reduced a -3.05% interest valued at $4.02 billion while Capital Research & Management Co purchased a 6,553,688 stake. A total of -148,745 shares of Target Corporation were bought by Geode Capital Management LLC during the quarter, and 22,630 were bought by Wells Fargo Clearing Services LLC. In its current portfolio, Massachusetts Financial Services holds 6,775,981 shares valued at $1.09 billion.

In terms of Target Corporation share price expectations, FactSet research, analysts set an average price target of $191.89 in the next 12 months, up nearly 19.47% from the previous closing price of $159.03. Analysts anticipate Target Corporation stock to reach $244.00 by 2022, with the lowest price target being $161.00. In spite of this, 32 analysts ranked Target Corporation stock as an Overweight at the end of 2022. On August 18, 2022, MKM Partners assigned a price target of “a Neutral” to the stock and reiterated coverage with a $161.


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