LPL Financial LLC Increases Stock Holdings in Target Co. (NYSE:TGT)

LPL Financial LLC lifted its stake in Target Co. (NYSE:TGT) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 298,612 shares of the retailer’s stock after purchasing an additional 16,740 shares during the quarter. LPL Financial LLC owned about 0.06% of Target worth $47,008,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in TGT. Belpointe Asset Management LLC increased its holdings in Target by 61.8% in the 2nd quarter. Belpointe Asset Management LLC now owns 5,166 shares of the retailer’s stock valued at $620,000 after purchasing an additional 1,973 shares in the last quarter. Capital Investment Advisors LLC raised its stake in shares of Target by 2.1% during the second quarter. Capital Investment Advisors LLC now owns 17,677 shares of the retailer’s stock worth $2,120,000 after buying an additional 367 shares during the last quarter. Empirical Finance LLC increased its stake in Target by 14.1% in the second quarter. Empirical Finance LLC now owns 3,424 shares of the retailer’s stock valued at $411,000 after purchasing an additional 422 shares in the last quarter. SG Americas Securities LLC increased its stake in Target by 181.3% in the second quarter. SG Americas Securities LLC now owns 26,443 shares of the retailer’s stock valued at $3,171,000 after purchasing an additional 58,971 shares in the last quarter. Finally, Western Wealth Management LLC bought a new stake in Target in the second quarter valued at approximately $521,000. Hedge funds and other institutional investors own 80.87% of the company’s stock.

TGT has been the topic of several analyst reports. DA Davidson initiated coverage on shares of Target in a research report on Friday, August 14th. They set a “buy” rating and a $152.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Target in a research report on Thursday, October 8th. They set a “buy” rating on the stock. BMO Capital Markets raised their price target on shares of Target from $135.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. JPMorgan Chase & Co. reaffirmed a “focus list” rating on shares of Target in a research report on Wednesday, August 12th. Finally, Tigress Financial reiterated a “buy” rating on shares of Target in a research note on Wednesday, September 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. Target has an average rating of “Buy” and an average target price of $142.57.

Shares of TGT opened at $163.04 on Wednesday. The firm has a market capitalization of $81.62 billion, a PE ratio of 23.53, a PEG ratio of 3.16 and a beta of 0.85. The company’s 50-day moving average is $160.10 and its 200-day moving average is $136.61. Target Co. has a fifty-two week low of $90.17 and a fifty-two week high of $167.42. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.11 and a quick ratio of 0.55.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 19th. The retailer reported $3.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $1.74. Target had a net margin of 4.16% and a return on equity of 30.25%. The firm had revenue of $22.98 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the prior year, the company posted $1.82 earnings per share. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. Analysts predict that Target Co. will post 7.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $0.68 per share. The ex-dividend date is Tuesday, November 17th. This represents a $2.72 annualized dividend and a yield of 1.67%. Target’s payout ratio is 42.57%.

In other news, insider Stephanie A. Lundquist sold 4,471 shares of Target stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $161.00, for a total value of $719,831.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Cornell sold 100,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $153.11, for a total transaction of $15,311,000.00. Following the sale, the insider now owns 247,379 shares of the company’s stock, valued at approximately $37,876,198.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,789 shares of company stock valued at $23,084,422. Company insiders own 0.52% of the company’s stock.

About Target

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, and other merchandise; beauty and household essentials; The company also provides in-store amenities, such as Target Café, Target Optical, Starbucks, and other food service offerings.

See Also: Momentum Indicator: Relative Strength Index

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGT).

Institutional Ownership by Quarter for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.