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
Date Reported | Holder | Percentage | Shares | Value |
---|---|---|---|---|
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 | Blackrock Inc. | 7% | 32,463,555 | $3,655,396,243 |
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 |
2023-06-30 | Morgan Stanley | 1% | 6,128,784 | $690,101,069 |
Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Target.