NorthCoast Asset Management LLC raised its stake in shares of Target Co. (NYSE:TGT) by 104.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,385 shares of the retailer’s stock after purchasing an additional 6,339 shares during the period. NorthCoast Asset Management LLC’s holdings in Target were worth $2,996,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Target by 4.4% in the 1st quarter. BlackRock Inc. now owns 38,768,116 shares of the retailer’s stock valued at $7,678,800,000 after purchasing an additional 1,633,495 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Target by 5.8% in the 1st quarter. Ameriprise Financial Inc. now owns 9,289,773 shares of the retailer’s stock worth $1,840,046,000 after buying an additional 509,194 shares during the period. Geode Capital Management LLC boosted its holdings in Target by 3.8% in the first quarter. Geode Capital Management LLC now owns 7,852,914 shares of the retailer’s stock valued at $1,551,203,000 after acquiring an additional 289,556 shares during the last quarter. Jennison Associates LLC grew its position in Target by 1,562.3% during the first quarter. Jennison Associates LLC now owns 4,514,325 shares of the retailer’s stock valued at $894,152,000 after acquiring an additional 4,242,754 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Target by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 4,244,381 shares of the retailer’s stock worth $840,685,000 after acquiring an additional 48,901 shares during the last quarter. 76.73% of the stock is currently owned by institutional investors.
TGT opened at $242.14 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 1.04 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average price is $252.82 and its 200 day moving average price is $227.93. Target Co. has a fifty-two week low of $146.45 and a fifty-two week high of $267.06. The firm has a market cap of $118.17 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98.
Target announced that its board has approved a share buyback program on Wednesday, August 18th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the retailer to reacquire up to 12.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
A number of research firms recently issued reports on TGT. DA Davidson reissued a “buy” rating on shares of Target in a research report on Thursday, August 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Target from $258.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 11th. Telsey Advisory Group upped their price target on shares of Target from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, August 13th. UBS Group upgraded Target from a “neutral” rating to a “buy” rating and increased their price target for the company from $210.00 to $265.00 in a report on Tuesday, June 8th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised their target price on Target from $225.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, May 24th. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $252.30.
In other Target news, insider Don H. Liu sold 3,000 shares of the business’s stock in a transaction on Friday, August 6th. The stock was sold at an average price of $261.93, for a total transaction of $785,790.00. Following the completion of the transaction, the insider now owns 62,017 shares in the company, valued at approximately $16,244,112.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Don H. Liu sold 13,977 shares of Target stock in a transaction dated Wednesday, August 4th. The shares were sold at an average price of $261.20, for a total transaction of $3,650,792.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,744 shares of company stock worth $34,106,184. 0.29% of the stock is currently owned by insiders.
Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.
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