Target Co. (NYSE:TGT) Shares Bought by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. boosted its position in shares of Target Co. (NYSE:TGT) by 19.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,103 shares of the retailer’s stock after buying an additional 18,567 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Target were worth $16,596,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TGT. Norges Bank bought a new position in Target during the fourth quarter valued at about $759,810,000. Boston Partners bought a new position in Target during the first quarter valued at about $335,870,000. Clearbridge Investments LLC boosted its stake in Target by 58.0% during the fourth quarter. Clearbridge Investments LLC now owns 2,683,228 shares of the retailer’s stock valued at $382,145,000 after buying an additional 984,464 shares in the last quarter. Focused Investors Fund L P bought a new position in Target during the first quarter valued at about $125,536,000. Finally, Swedbank AB acquired a new position in shares of Target in the 1st quarter valued at $107,367,000. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

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

Target (NYSE:TGT) last announced its earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter in the prior year, the business earned $1.80 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts expect that Target Co. will post 9.53 EPS for the current fiscal year.

Insider Activity

In other Target news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The sale was disclosed in a document filed with the SEC, 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 sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TGT shares. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price target on shares of Target in a research report on Wednesday, August 21st. BMO Capital Markets cut their price target on Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research note on Thursday, May 23rd. Bank of America raised their price target on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Oppenheimer cut their price target on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $190.00 price objective on shares of Target in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and two have assigned 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 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.