Target Co. (NYSE:TGT) Shares Acquired by Somerset Group LLC

Somerset Group LLC increased its position in shares of Target Co. (NYSE:TGT) by 63.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,396 shares of the retailer’s stock after purchasing an additional 926 shares during the quarter. Somerset Group LLC’s holdings in Target were worth $355,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Target by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock worth $6,401,142,000 after purchasing an additional 417,818 shares during the last quarter. Victory Capital Management Inc. increased its position in Target by 11.4% in the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock worth $639,050,000 after buying an additional 440,307 shares during the period. Clearbridge Investments LLC lifted its stake in Target by 17.5% in the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after buying an additional 470,647 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Target by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock valued at $461,031,000 after buying an additional 435,229 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of Target by 9.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock valued at $458,131,000 after acquiring an additional 272,521 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Trading Up 1.1 %

NYSE:TGT opened at $153.57 on Thursday. The stock has a fifty day simple moving average of $148.34 and a 200 day simple moving average of $155.03. The firm has a market capitalization of $71.05 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.80 earnings per share. Sell-side analysts forecast that Target Co. will post 9.53 earnings per share for the current year.

Wall Street Analyst Weigh In

TGT has been the topic of several recent research reports. Truist Financial lifted their price objective on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Evercore ISI raised their price target on shares of Target from $158.00 to $160.00 and gave the company an “inline” rating in a research note on Thursday, August 22nd. Roth Mkm boosted their price objective on Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price objective on shares of Target in a report on Wednesday, August 21st. Finally, Wells Fargo & Company lifted their target price on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.68.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.