Main Street Financial Solutions LLC Increases Stock Position in Target Co. (NYSE:TGT)

Main Street Financial Solutions LLC grew its holdings in Target Co. (NYSE:TGT) by 10.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,937 shares of the retailer’s stock after purchasing an additional 554 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Target were worth $879,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Aveo Capital Partners LLC increased its position in Target by 76.5% during the fourth quarter. Aveo Capital Partners LLC now owns 28,741 shares of the retailer’s stock worth $4,093,000 after buying an additional 12,460 shares in the last quarter. Gryphon Financial Partners LLC purchased a new stake in Target during the 4th quarter worth about $346,000. AGF Management Ltd. raised its stake in Target by 3.6% in the 4th quarter. AGF Management Ltd. now owns 4,306 shares of the retailer’s stock valued at $613,000 after purchasing an additional 148 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Target by 14.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 24,304 shares of the retailer’s stock valued at $3,461,000 after purchasing an additional 3,002 shares during the last quarter. Finally, Westpac Banking Corp lifted its holdings in Target by 15.7% in the 4th quarter. Westpac Banking Corp now owns 4,084 shares of the retailer’s stock valued at $582,000 after purchasing an additional 553 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Up 0.8 %

NYSE TGT opened at $148.47 on Friday. The company’s fifty day simple moving average is $147.91 and its 200-day simple moving average is $155.01. The stock has a market cap of $68.69 billion, a P/E ratio of 16.66, a PEG ratio of 1.95 and a beta of 1.24. Target Co. has a 52 week low of $102.93 and a 52 week high of $181.86. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. The firm had revenue of $25.02 billion for 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 firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.80 EPS. Equities research analysts predict that Target Co. will post 9.53 EPS for the current fiscal year.

Insider Activity at Target

In other Target news, 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 sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the firm’s 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 of the company’s stock, valued at $48,210,768.81. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Roth Mkm boosted their price objective on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Wells Fargo & Company increased their price target on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price objective on Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Evercore ISI increased their target price on Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research report on Thursday, August 22nd. Finally, StockNews.com upgraded Target from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.68.

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.