Target Co. (NYSE:TGT) Shares Purchased by Avalon Global Asset Management LLC

Avalon Global Asset Management LLC grew its stake in shares of Target Co. (NYSE:TGT) by 53.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,000 shares of the retailer’s stock after purchasing an additional 40,000 shares during the quarter. Target accounts for 3.9% of Avalon Global Asset Management LLC’s investment portfolio, making the stock its 7th biggest position. Avalon Global Asset Management LLC’s holdings in Target were worth $17,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of TGT. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Target by 159.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 10,698 shares of the retailer’s stock valued at $1,584,000 after purchasing an additional 6,575 shares during the period. Legacy Financial Advisors Inc. boosted its position in Target by 17.7% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 1,632 shares of the retailer’s stock valued at $242,000 after buying an additional 245 shares during the last quarter. Bulltick Wealth Management LLC acquired a new stake in shares of Target during the second quarter valued at about $1,529,000. Summit Trail Advisors LLC increased its position in shares of Target by 11.5% during the second quarter. Summit Trail Advisors LLC now owns 8,532 shares of the retailer’s stock worth $1,263,000 after acquiring an additional 879 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Target by 39.9% in the second quarter. Thrivent Financial for Lutherans now owns 27,535 shares of the retailer’s stock worth $4,076,000 after acquiring an additional 7,860 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analysts Set New Price Targets

TGT has been the topic of a number of recent analyst reports. StockNews.com raised Target from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. TD Cowen upped their price target on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. BNP Paribas began coverage on shares of Target in a research note on Monday, June 3rd. They set an “underperform” rating and a $116.00 price objective on the stock. Piper Sandler started coverage on shares of Target in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price for the company. Finally, Evercore ISI upped their target price 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $179.68.

Target Stock Down 1.1 %

TGT opened at $154.75 on Friday. The stock’s 50 day moving average price is $148.48 and its 200 day moving average price is $155.08. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The stock has a market cap of $71.59 billion, a P/E ratio of 17.37, a P/E/G ratio of 1.90 and a beta of 1.24. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $1.80 earnings per share. As a group, research analysts predict that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio is currently 50.28%.

Insider Activity at Target

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

Target Profile

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.