Mirae Asset Global Investments Co. Ltd. Grows Stake in Target Co. (NYSE:TGT)

Mirae Asset Global Investments Co. Ltd. raised its stake in Target Co. (NYSE:TGTGet Rating) by 25.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,254 shares of the retailer’s stock after acquiring an additional 12,050 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Target were worth $12,787,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TGT. Williams Jones Wealth Management LLC. boosted its position in shares of Target by 5.6% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 10,375 shares of the retailer’s stock valued at $2,401,000 after buying an additional 549 shares during the last quarter. Hilltop Holdings Inc. lifted its holdings in Target by 6.7% in the fourth quarter. Hilltop Holdings Inc. now owns 12,390 shares of the retailer’s stock valued at $2,867,000 after acquiring an additional 774 shares during the period. Clark Capital Management Group Inc. bought a new position in Target in the fourth quarter valued at about $1,034,000. RB Capital Management LLC lifted its holdings in Target by 4.1% in the fourth quarter. RB Capital Management LLC now owns 2,129 shares of the retailer’s stock valued at $493,000 after acquiring an additional 83 shares during the period. Finally, Mutual Advisors LLC raised its stake in shares of Target by 8.0% in the fourth quarter. Mutual Advisors LLC now owns 9,966 shares of the retailer’s stock worth $2,307,000 after buying an additional 738 shares during the period. 77.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TGT has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on Target from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Telsey Advisory Group decreased their price objective on Target from $200.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 8th. Cowen raised their price objective on Target to $210.00 in a research note on Monday, August 22nd. MKM Partners decreased their price objective on Target from $163.00 to $161.00 and set a “neutral” rating on the stock in a research note on Thursday, August 18th. Finally, Credit Suisse Group cut their target price on Target from $286.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, May 23rd. Nine research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.67.

Insider Buying and Selling at Target

In other news, CAO Matthew A. Liegel sold 1,226 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $173.80, for a total value of $213,078.80. Following the completion of the transaction, the chief accounting officer now directly owns 2,812 shares of the company’s stock, valued at approximately $488,725.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Matthew A. Liegel sold 1,226 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $173.80, for a total transaction of $213,078.80. Following the transaction, the chief accounting officer now directly owns 2,812 shares in the company, valued at approximately $488,725.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John J. Mulligan sold 39,101 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $166.02, for a total value of $6,491,548.02. Following the transaction, the insider now owns 118,425 shares in the company, valued at $19,660,918.50. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Target Price Performance

Shares of TGT stock opened at $164.76 on Tuesday. Target Co. has a 52-week low of $137.16 and a 52-week high of $268.98. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.14 and a current ratio of 0.82. The firm has a market capitalization of $75.83 billion, a P/E ratio of 18.72, a P/E/G ratio of 2.05 and a beta of 1.02. The stock has a 50 day moving average price of $162.75 and a 200 day moving average price of $183.17.

Target (NYSE:TGTGet Rating) last issued its quarterly earnings results on Wednesday, August 17th. The retailer reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.33). Target had a return on equity of 35.15% and a net margin of 3.92%. The business had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $26.07 billion. During the same period in the prior year, the business posted $3.64 earnings per share. Target’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Target Co. will post 8.11 earnings per share for the current year.

About Target

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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