Sequoia Financial Advisors LLC Boosts Holdings in Target Corporation (TGT)
Sequoia Financial Advisors LLC raised its holdings in shares of Target Corporation (NYSE:TGT) by 8.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,418 shares of the retailer’s stock after purchasing an additional 359 shares during the period. Sequoia Financial Advisors LLC’s holdings in Target Corporation were worth $231,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC increased its position in Target Corporation by 23.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,072 shares of the retailer’s stock valued at $117,000 after purchasing an additional 399 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Target Corporation by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock valued at $129,000 after buying an additional 204 shares in the last quarter. Davidson Investment Advisors boosted its holdings in shares of Target Corporation by 18.5% in the 1st quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock valued at $141,000 after buying an additional 400 shares in the last quarter. Kistler Tiffany Companies LLC boosted its holdings in shares of Target Corporation by 19.1% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock valued at $145,000 after buying an additional 445 shares in the last quarter. Finally, Washington Trust Bank boosted its holdings in shares of Target Corporation by 105.6% in the 2nd quarter. Washington Trust Bank now owns 3,067 shares of the retailer’s stock valued at $160,000 after buying an additional 1,575 shares in the last quarter. 83.22% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Hourigan Rice Jacqueline sold 4,679 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $59.37, for a total transaction of $277,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.
Target Corporation (TGT) opened at 59.26 on Thursday. Target Corporation has a 12-month low of $48.56 and a 12-month high of $79.33. The stock has a market capitalization of $32.37 billion, a price-to-earnings ratio of 11.97 and a beta of 0.60. The stock’s 50 day moving average is $56.82 and its 200 day moving average is $55.00. Target Corporation also was the target of some unusual options trading on Monday. Traders acquired 11,895 put options on the stock. This is an increase of 113% compared to the typical volume of 5,575 put options.
Target Corporation (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 16th. The retailer reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The business had revenue of $16.43 billion during the quarter, compared to the consensus estimate of $16.30 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Target Corporation will post $4.51 EPS for the current fiscal year.
A number of analysts have recently weighed in on TGT shares. Vetr cut shares of Target Corporation from a “strong-buy” rating to a “buy” rating and set a $58.97 price target on the stock. in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Tuesday, June 6th. BidaskClub upgraded shares of Target Corporation from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. MKM Partners raised their price target on shares of Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Finally, ValuEngine cut shares of Target Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Five equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the company’s stock. Target Corporation presently has a consensus rating of “Hold” and an average target price of $61.64.
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Target Corporation Profile
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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