Kore Private Wealth LLC Increases Stock Holdings in Target Co. (NYSE:TGT)

Kore Private Wealth LLC increased its holdings in Target Co. (NYSE:TGT) by 10.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,059 shares of the retailer’s stock after purchasing an additional 191 shares during the period. Kore Private Wealth LLC’s holdings in Target were worth $498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGT. BlackRock Inc. increased its stake in Target by 4.5% in the 2nd quarter. BlackRock Inc. now owns 40,515,802 shares of the retailer’s stock worth $9,794,290,000 after acquiring an additional 1,747,686 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Target by 5.8% during the 1st quarter. Ameriprise Financial Inc. now owns 9,289,773 shares of the retailer’s stock worth $1,840,046,000 after purchasing an additional 509,194 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Target by 3.8% during the 2nd quarter. Jennison Associates LLC now owns 4,687,215 shares of the retailer’s stock worth $1,133,087,000 after purchasing an additional 172,890 shares during the last quarter. Bank of New York Mellon Corp increased its position in Target by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,311,362 shares of the retailer’s stock valued at $1,042,229,000 after buying an additional 66,981 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Target by 5.5% in the second quarter. Legal & General Group Plc now owns 3,982,448 shares of the retailer’s stock valued at $962,716,000 after purchasing an additional 206,130 shares during the period. 76.73% of the stock is currently owned by institutional investors.

In related news, insider Don H. Liu sold 13,977 shares of Target stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $261.20, for a total value of $3,650,792.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Don H. Liu sold 3,000 shares of Target stock in a transaction on Friday, August 6th. The stock was sold at an average price of $261.93, for a total transaction of $785,790.00. Following the completion of the transaction, the insider now owns 62,017 shares in the company, valued at approximately $16,244,112.81. The disclosure for this sale can be found here. Insiders sold a total of 136,744 shares of company stock valued at $34,106,184 in the last ninety days. Company insiders own 0.29% of the company’s stock.

Several research firms recently commented on TGT. KeyCorp raised their target price on Target from $235.00 to $280.00 and gave the stock an “overweight” rating in a report on Tuesday, July 27th. DA Davidson reiterated a “buy” rating on shares of Target in a research report on Thursday, August 19th. Telsey Advisory Group lifted their price objective on Target from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, August 13th. Argus raised their target price on Target from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, June 23rd. Finally, Morgan Stanley raised their target price on Target from $250.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 25th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $252.30.

Shares of NYSE TGT opened at $236.75 on Thursday. The company has a quick ratio of 0.46, a current ratio of 1.04 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average price is $244.78 and its two-hundred day moving average price is $233.57. Target Co. has a 52-week low of $150.80 and a 52-week high of $267.06. The stock has a market capitalization of $115.54 billion, a P/E ratio of 18.85, a P/E/G ratio of 1.36 and a beta of 0.98.

Target (NYSE:TGT) last released its quarterly earnings results on Tuesday, August 17th. The retailer reported $3.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.49 by $0.15. Target had a return on equity of 44.68% and a net margin of 6.29%. The company had revenue of $24.83 billion for the quarter, compared to analysts’ expectations of $25.03 billion. During the same quarter in the previous year, the company posted $3.38 earnings per share. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities research analysts expect that Target Co. will post 12.86 earnings per share for the current year.

Target declared that its board has approved a share buyback plan on Wednesday, August 18th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the retailer to purchase up to 12.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Wednesday, November 17th will be given a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, November 16th. This represents a $3.60 annualized dividend and a yield of 1.52%. Target’s dividend payout ratio (DPR) is 38.22%.

Target Company Profile

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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Institutional Ownership by Quarter for Target (NYSE:TGT)

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