Unusual Put Option Trade in Target Worth $8,213.62K

Investing

Published: May 25, 2023 3:54 am

Last Updated: May 25, 2023 12:58 pm

On May 24, 2023 at 13:55:32 ET an unusually large $8,213.62K block of Put contracts in Target (TGT) was sold, with a strike price of $165.00 / share, expiring in 23 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 12.97 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 3033 funds or institutions reporting positions in Target. This is a decrease of 25 owner(s) or 0.82% in the last quarter. Average portfolio weight of all funds dedicated to TGT is 0.38%, a decrease of 0.26%. Total shares owned by institutions increased in the last three months by 2.31% to 439,545K shares. The put/call ratio of TGT is 1.04, indicating a bearish outlook.

Analyst Price Forecast Suggests 25.33% 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 25.33% from its latest reported closing price of 147.16.

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

The projected annual revenue for Target is 112,126MM, an increase of 2.61%. The projected annual non-GAAP EPS is 9.71.

What are Other Shareholders Doing?

Capital World Investors holds 36,088K shares representing 7.82% ownership of the company. In it’s prior filing, the firm reported owning 31,773K shares, representing an increase of 11.96%. The firm increased its portfolio allocation in TGT by 22.39% 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.

Key filings for this company: