BlackRock Amends Target Stake, Signals Passive Investment
Ticker: TGT · Form: SC 13G/A · Filed: 2024-01-26T00:00:00.000Z
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
Related Tickers: TGT
TL;DR
**BlackRock just updated its Target stock ownership, confirming its big, passive stake.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 26, 2024, disclosing its ownership of Target Corporation's Common Stock as of December 31, 2023. This filing, Amendment No. 9, indicates BlackRock's continued significant, but passive, investment in Target. This matters to investors because BlackRock is a major institutional holder, and changes in its reported stake can signal shifts in large-scale investor sentiment or portfolio adjustments, even if the specific percentage isn't detailed in this excerpt.
Why It Matters
This filing confirms BlackRock's ongoing substantial, yet passive, investment in Target, which can reassure investors about institutional confidence in the company.
Risk Assessment
Risk Level: low — This filing is routine for large institutional investors and does not indicate any immediate financial risk or significant change in strategy.
Analyst Insight
Investors should note BlackRock's continued passive stake in Target, which suggests long-term institutional confidence, but this filing alone doesn't warrant immediate action without further details on the percentage change.
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- TARGET CORP (company) — the subject company whose stock is being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 26, 2024 (date) — the date the SC 13G/A was filed
- Amendment No. 9 (number) — the specific amendment number of the filing
FAQ
What type of filing is this and who filed it?
This is an SC 13G/A filing, which is an amendment to a Schedule 13G. It was filed by BlackRock Inc. regarding its ownership in TARGET CORP.
What is the purpose of an SC 13G/A filing?
An SC 13G/A is an amendment to a Schedule 13G, used by passive institutional investors (owning 5% or more of a company's stock) to update their ownership stake. This specific filing is Amendment No. 9, indicating previous filings have been made.
What is the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' is December 31, 2023, as stated in the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the '[X] Rule 13d-1(b)' checkbox in the filing.
What is the CUSIP Number for TARGET CORPORATION's Common Stock mentioned in the filing?
The CUSIP Number for TARGET CORPORATION's Common Stock is 87612E106, as stated in the filing.
From the Filing
EDGAR Filing Documents for 0001086364-24-004692 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0001086364-24-004692 Filing Date 2024-01-26 Accepted 2024-01-26 16:23:46 Documents 1 Document Format Files Seq Description Document Type Size 1 us87612e1064_012624.txt SC 13G/A 11993 Complete submission text file 0001086364-24-004692.txt 13945 Mailing Address 1000 NICOLLET MALL MINNEAPOLIS MN 55403 Business Address 1000 NICOLLET MALL MINNEAPOLIS MN 55403 6123046073 TARGET CORP (Subject) CIK : 0000027419 (see all company filings) EIN. : 410215170 | State of Incorp.: MN | Fiscal Year End: 0201 Type: SC 13G/A | Act: 34 | File No.: 005-11648 | Film No.: 24568175 SIC : 5331 Retail-Variety Stores (CF Office: 07 Trade & Services) Mailing Address 50 HUDSON YARDS NEW YORK NY 10001 Business Address 50 HUDSON YARDS NEW YORK NY 10001 212-810-5300 BlackRock Inc. (Filed by) CIK : 0001364742 (see all company filings) EIN. : 320174431 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 6211 Security Brokers, Dealers & Flotation Companies (CF Office: 02 Finance)