Park Avenue Securities LLC Boosts Stock Holdings in Target Co. (NYSE:TGT)

Park Avenue Securities LLC grew its position in shares of Target Co. (NYSE:TGT) by 21.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,201 shares of the retailer’s stock after acquiring an additional 2,850 shares during the quarter. Park Avenue Securities LLC’s holdings in Target were worth $1,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of TGT. Hopwood Financial Services Inc. bought a new stake in shares of Target during the 4th quarter worth $29,000. Bernard Wealth Management Corp. bought a new stake in shares of Target during the 4th quarter worth $29,000. Legacy Investment Solutions LLC raised its stake in shares of Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after purchasing an additional 85 shares during the period. OFI Invest Asset Management bought a new stake in shares of Target during the 4th quarter worth $36,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Target during the 4th quarter worth $40,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of TGT opened at $100.72 on Wednesday. The stock has a 50-day simple moving average of $95.20 and a 200-day simple moving average of $115.78. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The stock has a market capitalization of $45.76 billion, a PE ratio of 10.68, a PEG ratio of 1.94 and a beta of 1.22. Target Co. has a 1 year low of $87.35 and a 1 year high of $167.40.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.35). The business had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $2.03 EPS. On average, analysts predict that Target Co. will post 8.69 earnings per share for the current fiscal year.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the transaction, the insider now directly owns 246,453 shares in the company, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Mizuho lowered their price objective on Target from $92.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company decreased their price target on Target from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. Stifel Nicolaus decreased their price target on Target from $130.00 to $120.00 and set a “hold” rating on the stock in a research report on Thursday, March 20th. Robert W. Baird set a $100.00 price target on Target in a research report on Thursday, May 22nd. Finally, Sanford C. Bernstein cut Target from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $97.00 to $82.00 in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Target currently has an average rating of “Hold” and an average target price of $116.70.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.