Unusual Call Option Trade in Target Worth $634.55K

Investing

Published: May 16, 2023 3:33 am

Last Updated: May 16, 2023 1:35 pm

On May 15, 2023 at 10:19:12 ET an unusually large $634.55K block of Call contracts in Target (TGT) was sold, with a strike price of $160.00 / share, expiring in 4 day(s) (on May 19, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 3.89 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in TGT options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 3029 funds or institutions reporting positions in Target. This is an increase of 13 owner(s) or 0.43% in the last quarter. Average portfolio weight of all funds dedicated to TGT is 0.39%, an increase of 25.18%. Total shares owned by institutions increased in the last three months by 5.17% to 443,813K shares. The put/call ratio of TGT is 1.01, indicating a bearish outlook.

Analyst Price Forecast Suggests 16.73% Upside

As of May 11, 2023, the average one-year price target for Target is 184.43. The forecasts range from a low of 156.55 to a high of $231.00. The average price target represents an increase of 16.73% from its latest reported closing price of 157.99.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Target is 112,126MM, an increase of 2.75%. The projected annual non-GAAP EPS is 9.71.

What are Other Shareholders Doing?

Capital World Investors holds 31,773K shares representing 6.88% ownership of the company. In it’s prior filing, the firm reported owning 17,320K shares, representing an increase of 45.49%. The firm increased its portfolio allocation in TGT by 74.95% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 13,993K shares representing 3.03% ownership of the company. In it’s prior filing, the firm reported owning 13,725K shares, representing an increase of 1.92%. The firm decreased its portfolio allocation in TGT by 5.43% over the last quarter.

Bank Of America holds 12,905K shares representing 2.80% ownership of the company. In it’s prior filing, the firm reported owning 11,770K shares, representing an increase of 8.79%. The firm decreased its portfolio allocation in TGT by 71.98% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 10,640K shares representing 2.31% ownership of the company. In it’s prior filing, the firm reported owning 10,511K shares, representing an increase of 1.21%. The firm decreased its portfolio allocation in TGT by 6.34% over the last quarter.

Wells Fargo holds 9,981K shares representing 2.16% ownership of the company. In it’s prior filing, the firm reported owning 9,799K shares, representing an increase of 1.82%. The firm decreased its portfolio allocation in TGT by 63.60% over the last quarter.

Target Background Information
(This description is provided by the company.)

Minneapolis-based Target Corporation serves guests at nearly 1,900 stores and at Target.com. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week.

See all Target regulatory filings.

This article originally appeared on Fintel