HBK Sorce Advisory LLC Lowers Position in Target Co. (NYSE:TGT)

HBK Sorce Advisory LLC cut its stake in Target Co. (NYSE:TGT) by 4.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,467 shares of the retailer’s stock after selling 903 shares during the period. HBK Sorce Advisory LLC’s holdings in Target were worth $3,178,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new position in shares of Target during the 2nd quarter valued at about $25,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Target in the fourth quarter worth approximately $28,000. Slocum Gordon & Co LLP bought a new position in Target during the second quarter valued at approximately $28,000. Private Wealth Management Group LLC purchased a new position in shares of Target during the fourth quarter worth approximately $29,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Target in the 4th quarter worth approximately $29,000. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group increased their target price on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Robert W. Baird reiterated an “outperform” rating and issued a $190.00 price objective on shares of Target in a report on Thursday, May 23rd. Oppenheimer dropped their price objective on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. TD Cowen lifted their price objective on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Finally, StockNews.com raised Target from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and an average price target of $179.68.

Target Stock Performance

Shares of NYSE TGT opened at $148.47 on Friday. The company has a market cap of $68.40 billion, a PE ratio of 16.66, a PEG ratio of 1.90 and a beta of 1.24. The firm’s 50-day moving average price is $147.91 and its 200-day moving average price is $155.01. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (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 the consensus estimate of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the business posted $1.80 EPS. As a group, analysts anticipate that Target Co. will post 9.53 EPS for the current year.

Insider Transactions at Target

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the company’s 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Target news, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. 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.