Independence Bank of Kentucky trimmed its holdings in shares of Target Co. (NYSE:TGT – Free Report) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,556 shares of the retailer’s stock after selling 360 shares during the quarter. Independence Bank of Kentucky’s holdings in Target were worth $601,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. InTrack Investment Management Inc grew its holdings in Target by 28.0% during the 2nd quarter. InTrack Investment Management Inc now owns 5,893 shares of the retailer’s stock worth $777,000 after acquiring an additional 1,289 shares during the last quarter. Moseley Investment Management Inc. lifted its position in shares of Target by 14.8% in the 2nd quarter. Moseley Investment Management Inc. now owns 1,734 shares of the retailer’s stock worth $229,000 after purchasing an additional 223 shares during the period. DnB Asset Management AS lifted its position in shares of Target by 0.8% in the 2nd quarter. DnB Asset Management AS now owns 127,196 shares of the retailer’s stock worth $16,777,000 after purchasing an additional 1,008 shares during the period. Modus Advisors LLC lifted its position in shares of Target by 6.1% in the 2nd quarter. Modus Advisors LLC now owns 16,284 shares of the retailer’s stock worth $2,148,000 after purchasing an additional 932 shares during the period. Finally, New England Research & Management Inc. lifted its position in shares of Target by 274.5% in the 2nd quarter. New England Research & Management Inc. now owns 13,200 shares of the retailer’s stock worth $1,741,000 after purchasing an additional 9,675 shares during the period. 78.33% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on TGT. Barclays dropped their price target on shares of Target from $163.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Friday, August 11th. Telsey Advisory Group dropped their price target on shares of Target from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Thursday, August 17th. Stifel Nicolaus dropped their price target on shares of Target from $175.00 to $160.00 and set a “hold” rating on the stock in a research report on Monday, August 14th. Roth Mkm restated a “neutral” rating and issued a $156.00 price target on shares of Target in a research report on Wednesday, August 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $161.00 price target on shares of Target in a research report on Thursday, August 17th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $159.21.
Target Stock Performance
NYSE TGT opened at $124.84 on Friday. Target Co. has a 1 year low of $120.75 and a 1 year high of $181.70. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.83 and a quick ratio of 0.18. The firm has a market cap of $57.63 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.15 and a beta of 1.01. The company has a fifty day moving average price of $129.23 and a 200-day moving average price of $143.55.
Target (NYSE:TGT – Get Free Report) last posted its earnings results on Wednesday, August 16th. The retailer reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.39. Target had a net margin of 3.12% and a return on equity of 29.43%. The firm had revenue of $24.77 billion during the quarter, compared to analyst estimates of $25.18 billion. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue was down 4.9% compared to the same quarter last year. As a group, equities research analysts predict that Target Co. will post 7.6 EPS for the current fiscal year.
Insider Transactions at Target
In other news, insider Brian C. Cornell sold 30,000 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $130.70, for a total value of $3,921,000.00. Following the completion of the sale, the insider now owns 399,669 shares in the company, valued at approximately $52,236,738.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.
Target Company 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.
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