STA Wealth Management LLC raised its position in Target Co. (NYSE:TGT) by 26.2% in the 2nd quarter, Holdings Channel reports. The fund owned 4,298 shares of the retailer’s stock after purchasing an additional 892 shares during the period. STA Wealth Management LLC’s holdings in Target were worth $372,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of TGT. Renaissance Technologies LLC grew its position in Target by 613.5% in the second quarter. Renaissance Technologies LLC now owns 3,129,200 shares of the retailer’s stock valued at $271,020,000 after acquiring an additional 2,690,600 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Target by 59.7% during the first quarter. Nordea Investment Management AB now owns 2,893,715 shares of the retailer’s stock worth $232,253,000 after buying an additional 1,081,856 shares in the last quarter. Argent Capital Management LLC grew its position in shares of Target by 162.2% during the first quarter. Argent Capital Management LLC now owns 1,163,242 shares of the retailer’s stock worth $93,362,000 after buying an additional 719,655 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Target by 310.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 877,818 shares of the retailer’s stock worth $75,594,000 after buying an additional 663,782 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Target by 21.6% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,555,720 shares of the retailer’s stock worth $307,961,000 after buying an additional 630,907 shares in the last quarter. 81.82% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on the stock. Citigroup raised shares of Target from a “neutral” rating to a “buy” rating and raised their price target for the stock from $80.00 to $130.00 in a research report on Thursday, August 22nd. Barclays set a $115.00 price target on shares of Target and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley raised their price target on shares of Target from $76.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 22nd. Buckingham Research reissued a “buy” rating and set a $117.00 price target (up previously from $102.00) on shares of Target in a research report on Thursday, August 22nd. Finally, ValuEngine raised shares of Target from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $102.37.
Target stock traded down $1.00 during mid-day trading on Monday, reaching $106.99. The company’s stock had a trading volume of 268,946 shares, compared to its average volume of 7,495,316. The firm has a market cap of $55.66 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 2.51 and a beta of 0.53. The business has a 50 day moving average price of $94.59 and a 200-day moving average price of $84.42. The company has a current ratio of 0.84, a quick ratio of 0.21 and a debt-to-equity ratio of 1.05. Target Co. has a twelve month low of $60.15 and a twelve month high of $110.94.
Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. The firm had revenue of $18.42 billion during the quarter, compared to the consensus estimate of $18.32 billion. Target had a net margin of 4.10% and a return on equity of 27.43%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 earnings per share. On average, equities analysts expect that Target Co. will post 6.13 EPS for the current fiscal year.
In other Target news, insider Laysha Ward sold 20,000 shares of Target stock in a transaction on Friday, September 6th. The shares were sold at an average price of $110.23, for a total value of $2,204,600.00. Following the completion of the transaction, the insider now owns 88,171 shares of the company’s stock, valued at $9,719,089.33. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Don H. Liu sold 4,140 shares of Target stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $99.92, for a total transaction of $413,668.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,369 shares of company stock valued at $9,751,164. 0.24% of the stock is currently owned by corporate insiders.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.
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