Schonfeld Strategic Advisors LLC Makes New $14.89 Million Investment in Target Co. (NYSE:TGT)

Schonfeld Strategic Advisors LLC purchased a new position in shares of Target Co. (NYSE:TGT) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 124,163 shares of the retailer’s stock, valued at approximately $14,891,000.

Other institutional investors also recently made changes to their positions in the company. Fort Pitt Capital Group LLC raised its stake in shares of Target by 1.9% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 241,052 shares of the retailer’s stock worth $28,909,000 after purchasing an additional 4,522 shares in the last quarter. Bogle Investment Management L P DE bought a new stake in shares of Target during the 1st quarter worth approximately $9,378,000. First Trust Advisors LP raised its stake in shares of Target by 1,078.6% during the 2nd quarter. First Trust Advisors LP now owns 1,383,804 shares of the retailer’s stock worth $165,960,000 after purchasing an additional 1,266,392 shares in the last quarter. CWM LLC raised its stake in shares of Target by 39.5% during the 2nd quarter. CWM LLC now owns 278,582 shares of the retailer’s stock worth $33,410,000 after purchasing an additional 78,910 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in shares of Target during the 2nd quarter worth approximately $210,000. Institutional investors own 80.87% of the company’s stock.

Shares of TGT traded down $1.08 during trading hours on Wednesday, hitting $147.99. 2,052,353 shares of the company were exchanged, compared to its average volume of 5,408,957. The firm’s fifty day moving average is $140.37 and its 200 day moving average is $119.17. The company has a market cap of $74.09 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 2.86 and a beta of 0.87. The company has a quick ratio of 0.55, a current ratio of 1.11 and a debt-to-equity ratio of 1.13. Target Co. has a fifty-two week low of $90.17 and a fifty-two week high of $156.10.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 19th. The retailer reported $3.38 earnings per share for the quarter, beating the consensus estimate of $1.64 by $1.74. The business had revenue of $22.98 billion for the quarter, compared to analyst estimates of $20.11 billion. Target had a return on equity of 30.25% and a net margin of 4.16%. Target’s revenue was up 24.7% compared to the same quarter last year. During the same period last year, the firm posted $1.82 earnings per share. Analysts anticipate that Target Co. will post 7.15 EPS for the current year.

TGT has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target on Target from $135.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Morgan Stanley increased their price target on Target from $135.00 to $165.00 and gave the company an “equal weight” rating in a research note on Thursday, August 20th. Cfra increased their price target on Target from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. DA Davidson initiated coverage on Target in a research note on Friday, August 14th. They issued a “buy” rating and a $152.00 price target on the stock. Finally, Deutsche Bank increased their price target on Target from $121.00 to $131.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $139.52.

In other Target news, insider Don H. Liu sold 4,000 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $125.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now directly owns 68,330 shares in the company, valued at $8,541,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Cornell sold 100,000 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $153.11, for a total value of $15,311,000.00. Following the completion of the transaction, the insider now owns 247,379 shares of the company’s stock, valued at $37,876,198.69. The disclosure for this sale can be found here. Insiders sold 118,487 shares of company stock worth $17,714,694 over the last ninety days. 0.52% of the stock is currently owned by insiders.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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