LPL Financial LLC Raises Stock Position in Target Co. (NYSE:TGT)

LPL Financial LLC lifted its stake in shares of Target Co. (NYSE:TGTGet Rating) by 8.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 526,369 shares of the retailer’s stock after buying an additional 40,645 shares during the quarter. LPL Financial LLC owned about 0.11% of Target worth $121,823,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Industrial Alliance Investment Management Inc. acquired a new position in shares of Target in the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of Target in the 4th quarter valued at $28,000. Founders Capital Management acquired a new position in shares of Target in the 4th quarter valued at $29,000. Sterling Investment Advisors Ltd. increased its stake in Target by 12,500.0% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 126 shares of the retailer’s stock valued at $29,000 after buying an additional 125 shares during the period. Finally, Emerald Advisers LLC acquired a new position in Target in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 81.83% of the company’s stock.

In other news, insider Cara A. Sylvester sold 2,030 shares of the business’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $250.00, for a total value of $507,500.00. Following the completion of the sale, the insider now owns 7,891 shares of the company’s stock, valued at approximately $1,972,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert M. Harrison sold 2,080 shares of the business’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $217.87, for a total transaction of $453,169.60. The disclosure for this sale can be found here. Insiders sold a total of 99,363 shares of company stock valued at $21,970,253 in the last three months. Insiders own 0.29% of the company’s stock.

Shares of TGT stock opened at $167.14 on Friday. The company’s fifty day simple moving average is $216.09 and its 200-day simple moving average is $222.55. Target Co. has a 52 week low of $145.51 and a 52 week high of $268.98. The company has a current ratio of 0.87, a quick ratio of 0.35 and a debt-to-equity ratio of 1.24. The company has a market cap of $77.50 billion, a PE ratio of 13.86, a P/E/G ratio of 0.65 and a beta of 0.94.

Target (NYSE:TGTGet Rating) last issued its earnings results on Wednesday, May 18th. The retailer reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.88). Target had a net margin of 5.48% and a return on equity of 44.75%. The business had revenue of $24.83 billion during the quarter, compared to analysts’ expectations of $24.48 billion. During the same period in the prior year, the business posted $3.69 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Equities research analysts expect that Target Co. will post 14.27 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Wednesday, May 18th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Tuesday, May 17th. Target’s payout ratio is currently 29.85%.

TGT has been the topic of several recent research reports. Evercore ISI initiated coverage on shares of Target in a research note on Friday, February 25th. They issued a “hold” rating and a $235.00 price objective on the stock. Citigroup dropped their price objective on shares of Target from $274.00 to $188.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. Stifel Nicolaus cut shares of Target from a “buy” rating to a “hold” rating and dropped their price objective for the company from $270.00 to $185.00 in a research note on Wednesday, May 18th. Cowen dropped their price objective on shares of Target from $265.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, May 19th. Finally, Jefferies Financial Group lowered their price target on shares of Target from $252.00 to $168.00 and set a “hold” rating on the stock in a research note on Thursday, May 19th. Eleven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $217.72.

Target Profile (Get Rating)

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, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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