Marcum Wealth LLC trimmed its stake in Target Co. (NYSE:TGT) by 13.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,643 shares of the retailer’s stock after selling 730 shares during the quarter. Marcum Wealth LLC’s holdings in Target were worth $1,122,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Jennison Associates LLC raised its holdings in Target by 1,562.3% in the 1st quarter. Jennison Associates LLC now owns 4,514,325 shares of the retailer’s stock worth $894,152,000 after purchasing an additional 4,242,754 shares in the last quarter. BlackRock Inc. raised its holdings in Target by 4.4% in the 1st quarter. BlackRock Inc. now owns 38,768,116 shares of the retailer’s stock worth $7,678,800,000 after purchasing an additional 1,633,495 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Target by 619.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,658,670 shares of the retailer’s stock worth $328,533,000 after purchasing an additional 1,428,121 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Target by 3,162.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 750,108 shares of the retailer’s stock worth $148,574,000 after purchasing an additional 727,118 shares in the last quarter. Finally, Cullen Capital Management LLC raised its holdings in Target by 269.0% in the 1st quarter. Cullen Capital Management LLC now owns 988,070 shares of the retailer’s stock worth $195,707,000 after purchasing an additional 720,285 shares in the last quarter. Institutional investors and hedge funds own 76.73% of the company’s stock.
In other Target news, insider Brian C. Cornell sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The shares were sold at an average price of $245.98, for a total transaction of $6,149,500.00. Following the sale, the insider now owns 195,271 shares in the company, valued at approximately $48,032,760.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Don H. Liu sold 3,000 shares of Target stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $261.93, for a total transaction of $785,790.00. Following the sale, the insider now owns 62,017 shares in the company, valued at approximately $16,244,112.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,744 shares of company stock worth $34,106,184. 0.29% of the stock is owned by company insiders.
Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, August 17th. The retailer reported $3.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.49 by $0.15. Target had a net margin of 6.29% and a return on equity of 44.68%. The firm had revenue of $24.83 billion for the quarter, compared to analysts’ expectations of $25.03 billion. During the same quarter in the prior year, the business earned $3.38 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, research analysts anticipate that Target Co. will post 12.86 earnings per share for the current year.
Target declared that its board has authorized a share repurchase plan on Wednesday, August 18th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the retailer to purchase up to 12.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
Several brokerages recently issued reports on TGT. Raymond James increased their price target on shares of Target from $252.00 to $285.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 19th. Credit Suisse Group increased their price target on shares of Target from $283.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, August 19th. Citigroup increased their price objective on shares of Target from $258.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, August 19th. Evercore ISI reissued a “hold” rating on shares of Target in a research report on Sunday, May 23rd. Finally, Morgan Stanley increased their price objective on shares of Target from $250.00 to $260.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 25th. 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 MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $252.30.
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.
Featured Story: Correction
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).
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.