This afternoon we watched Target drop -4.0% to a price of $112.6 per share. The large-cap Department Store company is now trading -25.51% below its average target price of $151.17. Analysts have set target prices ranging from $130.0 to $184.0 per share for Target, and have given the stock an average rating of buy.
The stock has a very low short interest at 1.9%, and a short ratio of 1.53. The company's insiders own 0.2% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 81.5% of Target's shares being owned by this investor type.
Institutions Invested in Target
|2023-06-30||Vanguard Group Inc||9%||43,825,141||$4,934,710,809|
|2023-06-30||State Street Corporation||7%||34,085,093||$3,837,981,419|
|2023-06-30||Capital World Investors||7%||32,711,606||$3,683,326,785|
|2023-06-30||Bank of America Corporation||2%||11,449,692||$1,289,235,301|
|2023-06-30||Wells Fargo & Company||2%||9,502,715||$1,070,005,694|
|2023-06-30||Massachusetts Financial Services Co.||2%||9,310,990||$1,048,417,459|
|2023-06-30||Franklin Resources, Inc.||2%||8,973,381||$1,010,402,686|
|2023-06-30||Geode Capital Management, LLC||2%||8,443,280||$950,713,315|
Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Target.