Berman Capital Advisors LLC Boosts Stock Holdings in Target Co. (NYSE:TGT)

Berman Capital Advisors LLC boosted its stake in shares of Target Co. (NYSE:TGT) by 9.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,259 shares of the retailer’s stock after acquiring an additional 293 shares during the period. Berman Capital Advisors LLC’s holdings in Target were worth $787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. OLD Mission Capital LLC bought a new position in Target during the third quarter valued at $200,000. Magnolia Capital Advisors LLC bought a new stake in shares of Target in the 1st quarter worth about $215,000. Cibc World Markets Corp lifted its holdings in shares of Target by 54.7% in the 1st quarter. Cibc World Markets Corp now owns 142,753 shares of the retailer’s stock worth $28,275,000 after acquiring an additional 50,481 shares during the last quarter. Alberta Investment Management Corp lifted its holdings in Target by 27.5% during the 1st quarter. Alberta Investment Management Corp now owns 59,300 shares of the retailer’s stock valued at $11,746,000 after buying an additional 12,800 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC bought a new stake in Target during the 1st quarter valued at about $407,000. 76.73% of the stock is owned by institutional investors.

Shares of TGT traded up $1.00 during mid-day trading on Wednesday, hitting $242.31. 44,169 shares of the company’s stock were exchanged, compared to its average volume of 3,407,815. The company has a market cap of $118.26 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 1.36 and a beta of 0.98. Target Co. has a fifty-two week low of $150.10 and a fifty-two week high of $267.06. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.46 and a current ratio of 1.04. The stock’s 50-day moving average is $252.61 and its 200-day moving average is $228.42.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, August 17th. The retailer reported $3.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.49 by $0.15. The business had revenue of $24.83 billion for the quarter, compared to analysts’ expectations of $25.03 billion. Target had a net margin of 6.29% and a return on equity of 44.68%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.38 earnings per share. As a group, equities research analysts anticipate that Target Co. will post 12.86 EPS for the current year.

Target announced that its board has authorized a share buyback program 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 programs are usually a sign that the company’s board believes its shares are undervalued.

In other news, insider Brian C. Cornell sold 25,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $48,032,760.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Don H. Liu sold 13,977 shares of the company’s stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $261.20, for a total transaction of $3,650,792.40. The disclosure for this sale can be found here. Insiders have sold 136,744 shares of company stock worth $34,106,184 in the last three months. Corporate insiders own 0.29% of the company’s stock.

A number of research analysts have commented on the stock. Credit Suisse Group raised their target price on shares of Target from $283.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, August 19th. UBS Group upgraded shares of Target from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $210.00 to $265.00 in a research note on Tuesday, June 8th. They noted that the move was a valuation call. KeyCorp lifted their price objective on shares of Target from $235.00 to $280.00 and gave the company an “overweight” rating in a research note on Tuesday, July 27th. Morgan Stanley boosted their target price on shares of Target from $250.00 to $260.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 25th. Finally, Raymond James boosted their price target 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 research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $252.30.

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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