Main Street Financial Solutions LLC Increases Stake in Target Co. (NYSE:TGT)

Main Street Financial Solutions LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 10.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,937 shares of the retailer’s stock after buying an additional 554 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Target were worth $879,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aveo Capital Partners LLC raised its position in Target by 76.5% in the 4th quarter. Aveo Capital Partners LLC now owns 28,741 shares of the retailer’s stock valued at $4,093,000 after purchasing an additional 12,460 shares in the last quarter. Gryphon Financial Partners LLC acquired a new stake in Target in the fourth quarter valued at approximately $346,000. AGF Management Ltd. lifted its stake in Target by 3.6% in the fourth quarter. AGF Management Ltd. now owns 4,306 shares of the retailer’s stock worth $613,000 after acquiring an additional 148 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in Target by 14.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 24,304 shares of the retailer’s stock worth $3,461,000 after acquiring an additional 3,002 shares during the last quarter. Finally, Westpac Banking Corp grew its holdings in Target by 15.7% during the 4th quarter. Westpac Banking Corp now owns 4,084 shares of the retailer’s stock worth $582,000 after acquiring an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Up 0.8 %

Shares of Target stock opened at $148.47 on Friday. The company has a market cap of $68.69 billion, a P/E ratio of 16.66, a PEG ratio of 1.95 and a beta of 1.24. The firm has a fifty day moving average of $147.91 and a two-hundred day moving average of $155.01. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. Target Co. has a one year low of $102.93 and a one year high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The firm had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.80 earnings per share. On average, analysts forecast that Target Co. will post 9.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a research report on Monday, August 26th. Bank of America lifted their price target on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Wells Fargo & Company increased their price objective on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Jefferies Financial Group boosted their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $179.68.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

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.