Rock Creek Group LP increased its stake in shares of Target Co. (NYSE:TGT) by 23.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,075 shares of the retailer’s stock after buying an additional 207 shares during the quarter. Rock Creek Group LP’s holdings in Target were worth $260,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of TGT. OLD Mission Capital LLC acquired a new stake in Target during the third quarter worth approximately $200,000. Magnolia Capital Advisors LLC acquired a new stake in Target during the first quarter worth approximately $215,000. Ausdal Financial Partners Inc. grew its position in Target by 4.7% during the first quarter. Ausdal Financial Partners Inc. now owns 3,180 shares of the retailer’s stock worth $630,000 after buying an additional 144 shares in the last quarter. Wade G W & Inc. grew its position in Target by 10.0% during the first quarter. Wade G W & Inc. now owns 2,496 shares of the retailer’s stock worth $494,000 after buying an additional 226 shares in the last quarter. Finally, Commerce Bank grew its position in Target by 4.8% during the first quarter. Commerce Bank now owns 114,828 shares of the retailer’s stock worth $22,744,000 after buying an additional 5,301 shares in the last quarter. 76.73% of the stock is currently owned by institutional investors and hedge funds.
NYSE TGT opened at $242.24 on Wednesday. The company has a market capitalization of $118.22 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.36 and a beta of 0.98. Target Co. has a twelve month low of $146.45 and a twelve month high of $267.06. The stock has a fifty day simple moving average of $253.16 and a 200 day simple moving average of $225.98. The company has a quick ratio of 0.46, a current ratio of 1.04 and a debt-to-equity ratio of 0.78.
Target announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 18th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the retailer to repurchase up to 12.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts recently issued reports on the company. Raymond James increased their price target on Target from $252.00 to $285.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 19th. Evercore ISI restated a “hold” rating on shares of Target in a research note on Sunday, May 23rd. MKM Partners upped their target price on Target from $170.00 to $216.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 25th. Barclays upped their target price on Target from $225.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, May 20th. Finally, Zacks Investment Research cut Target from a “buy” rating to a “hold” rating and set a $269.00 target price for the company. in a research note on Friday, July 23rd. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Target currently has a consensus rating of “Buy” and an average price target of $252.30.
In other Target news, insider John J. Mulligan sold 80,782 shares of the stock in a transaction dated Thursday, August 19th. The stock was sold at an average price of $247.20, for a total transaction of $19,969,310.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Don H. Liu sold 13,977 shares of the stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $261.20, for a total value of $3,650,792.40. The disclosure for this sale can be found here. Insiders sold 136,744 shares of company stock valued at $34,106,184 over the last 90 days. 0.29% of the stock is currently owned by company insiders.
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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