Triangle Securities Wealth Management lifted its stake in Target Co. (NYSE:TGT – Get Rating) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,069 shares of the retailer’s stock after purchasing an additional 134 shares during the period. Triangle Securities Wealth Management’s holdings in Target were worth $1,049,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Blume Capital Management Inc. purchased a new position in shares of Target during the 1st quarter valued at about $25,000. Operose Advisors LLC raised its stake in Target by 55.8% during the 1st quarter. Operose Advisors LLC now owns 187 shares of the retailer’s stock worth $40,000 after acquiring an additional 67 shares during the period. HHM Wealth Advisors LLC lifted its holdings in Target by 75.6% during the second quarter. HHM Wealth Advisors LLC now owns 209 shares of the retailer’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Target by 83.3% in the first quarter. EverSource Wealth Advisors LLC now owns 220 shares of the retailer’s stock worth $47,000 after purchasing an additional 100 shares during the period. Finally, EdgeRock Capital LLC bought a new stake in shares of Target during the 3rd quarter valued at $34,000. 78.86% of the stock is currently owned by hedge funds and other institutional investors.
Target Price Performance
Target stock opened at $143.15 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.86 and a quick ratio of 0.14. The stock has a market cap of $65.89 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 2.62 and a beta of 1.01. The firm has a 50-day moving average of $158.48 and a two-hundred day moving average of $157.27. Target Co. has a 1 year low of $137.16 and a 1 year high of $254.87.
Target (NYSE:TGT – Get Rating) last announced its quarterly earnings results on Wednesday, November 16th. The retailer reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.61). The firm had revenue of $26.12 billion during the quarter, compared to analysts’ expectations of $26.40 billion. Target had a net margin of 3.17% and a return on equity of 30.51%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.03 EPS. On average, research analysts forecast that Target Co. will post 5.54 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have issued reports on TGT. Deutsche Bank Aktiengesellschaft lowered Target from a “buy” rating to a “hold” rating and cut their price target for the stock from $183.00 to $144.00 in a research note on Thursday, November 17th. StockNews.com assumed coverage on Target in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. The Goldman Sachs Group cut their price objective on shares of Target from $205.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, November 17th. BMO Capital Markets downgraded shares of Target from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $190.00 to $165.00 in a report on Thursday, November 17th. Finally, Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating and set a $132.00 target price for the company. in a research note on Wednesday, December 21st. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.64.
Target Company Profile
Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.
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