Parallel Advisors LLC boosted its stake in shares of Target Corporation (NYSE:TGT) by 23.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,072 shares of the retailer’s stock after acquiring an additional 399 shares during the quarter. Parallel Advisors LLC’s holdings in Target Corporation were worth $117,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of TGT. Hennessy Advisors Inc. increased its stake in Target Corporation by 54.2% during the first quarter. Hennessy Advisors Inc. now owns 113,500 shares of the retailer’s stock worth $6,264,000 after acquiring an additional 39,900 shares during the last quarter. Punch & Associates Investment Management Inc. increased its stake in Target Corporation by 0.7% during the first quarter. Punch & Associates Investment Management Inc. now owns 61,156 shares of the retailer’s stock worth $3,375,000 after acquiring an additional 417 shares during the last quarter. Robinson Value Management Ltd. bought a new stake in Target Corporation during the first quarter worth approximately $1,741,000. Welch & Forbes LLC increased its stake in Target Corporation by 0.3% during the first quarter. Welch & Forbes LLC now owns 8,150 shares of the retailer’s stock worth $450,000 after acquiring an additional 24 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new stake in Target Corporation during the first quarter worth approximately $441,000. 83.33% of the stock is currently owned by institutional investors.
In related news, insider Robert M. Harrison sold 2,639 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.
Shares of Target Corporation (TGT) opened at 59.96 on Friday. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The stock’s 50 day moving average price is $56.66 and its 200 day moving average price is $55.03. The stock has a market cap of $32.75 billion, a price-to-earnings ratio of 12.12 and a beta of 0.60.
Target Corporation (NYSE:TGT) last issued its earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Analysts forecast that Target Corporation will post $4.51 earnings per share for the current year.
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A number of research firms have recently commented on TGT. BMO Capital Markets reaffirmed a “market weight” rating on shares of Target Corporation in a research note on Thursday. Jefferies Group LLC reaffirmed a “hold” rating on shares of Target Corporation in a research note on Friday, August 25th. Zacks Investment Research cut Target Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $60.00 target price (up previously from $58.00) on shares of Target Corporation in a research note on Friday, August 18th. Finally, Vetr cut Target Corporation from a “buy” rating to a “hold” rating and set a $57.89 target price on the stock. in a research note on Thursday, August 17th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $61.64.
Target Corporation Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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