Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $18.92 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 $25.14 million.
As published in a research note from Jefferies on October 18, 2022, Target Corporation [TGT] has been rated up from a Hold to a Buy and the price target has been revised to $185 from $170. This represents a 13.62% premium over Thursday’s closing price. Analysts at KeyBanc Capital Markets started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid September. As of August 18, 2022, Truist has reiterated its “Hold” rating for TGT. Earlier on August 18, 2022, RBC Capital Mkts resumed its rating. Their recommendation was “an Outperform” for TGT stock.
Analyzing TGT Stock Performance
On Thursday, Target Corporation [NYSE: TGT] plunged -0.25% to $159.80. The stock’s lowest price that day was $157.7501, but it reached a high of $160.7884 in the same session. During the last five days, there has been a drop of approximately -4.25%. Over the course of the year, Target Corporation shares have dropped approximately -30.95%. 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 $159.65, while a 200-day SMA reached $183.04. Nevertheless, trading volume fell to 3.04 million shares from 3.38 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 158.10, which, if violated, would cause prices to drop to 156.41. In the upper region, resistance lies at 161.14. The next price resistance is at 162.48. RSI (Relative Strength Index) is 50.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.59, which suggests the price will decrease in the coming days. Percent R is at 45.49%, indicating low price movement. Stochastics %K at holding 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 $4,947,237,276. BlackRock Fund Advisors reduced a -3.05% interest valued at $3.72 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 $1.01 billion.