Target Co. (NYSE:TGT) Shares Purchased by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC grew its stake in shares of Target Co. (NYSE:TGT) by 20.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,620 shares of the retailer’s stock after buying an additional 1,287 shares during the period. Main Street Financial Solutions LLC’s holdings in Target were worth $1,842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BerganKDV Wealth Management LLC lifted its position in shares of Target by 2.0% in the second quarter. BerganKDV Wealth Management LLC now owns 29,284 shares of the retailer’s stock valued at $7,079,000 after acquiring an additional 583 shares in the last quarter. abrdn plc raised its stake in Target by 35.3% in the 2nd quarter. abrdn plc now owns 537,273 shares of the retailer’s stock valued at $129,880,000 after purchasing an additional 140,041 shares during the last quarter. Dohj LLC lifted its holdings in Target by 2.8% in the 2nd quarter. Dohj LLC now owns 4,621 shares of the retailer’s stock valued at $1,117,000 after purchasing an additional 128 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of Target by 18.4% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 11,169 shares of the retailer’s stock worth $2,700,000 after purchasing an additional 1,736 shares during the last quarter. Finally, Wintrust Investments LLC grew its holdings in shares of Target by 23.1% during the second quarter. Wintrust Investments LLC now owns 5,161 shares of the retailer’s stock worth $1,248,000 after buying an additional 970 shares in the last quarter. 76.73% of the stock is owned by institutional investors.

Shares of TGT stock traded up $1.80 during mid-day trading on Wednesday, reaching $244.04. 70,320 shares of the company were exchanged, compared to its average volume of 3,429,924. The company has a market capitalization of $119.10 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.36 and a beta of 0.98. The business’s 50 day simple moving average is $253.16 and its 200 day simple moving average is $225.98. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.46 and a current ratio of 1.04. Target Co. has a fifty-two week low of $146.45 and a fifty-two week high of $267.06.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, August 17th. The retailer reported $3.64 EPS for the quarter, topping the Zacks’ consensus estimate of $3.49 by $0.15. The business had revenue of $24.83 billion during the quarter, compared to the consensus estimate of $25.03 billion. Target had a return on equity of 44.68% and a net margin of 6.29%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $3.38 earnings per share. On average, analysts forecast that Target Co. will post 12.86 EPS for the current year.

Target declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 18th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the retailer to purchase up to 12.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

A number of brokerages recently issued reports on TGT. Citigroup raised their target price on shares of Target from $258.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, August 19th. Argus lifted their price objective on Target from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, June 23rd. Zacks Investment Research downgraded Target from a “buy” rating to a “hold” rating and set a $269.00 target price on the stock. in a research report on Friday, July 23rd. MKM Partners lifted their price target on Target from $170.00 to $216.00 and gave the company a “neutral” rating in a report on Tuesday, May 25th. Finally, Raymond James increased their price objective on shares of Target from $252.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 19th. Five analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Target has an average rating of “Buy” and a consensus price target of $252.30.

In related news, insider John J. Mulligan sold 80,782 shares of the company’s stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $247.20, for a total value of $19,969,310.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 2nd. The stock was 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 $48,032,760.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,744 shares of company stock worth $34,106,184. Insiders own 0.29% of the company’s stock.

Target Profile

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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