Oppenheimer & Co. Inc. Increases Stake in Target Co. (NYSE:TGT)

Oppenheimer & Co. Inc. increased its holdings in Target Co. (NYSE:TGT) by 14.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,937 shares of the retailer’s stock after acquiring an additional 5,699 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Target were worth $6,801,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Washington Trust Advisors Inc. boosted its position in Target by 56.1% during the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Williams Jones Wealth Management LLC. boosted its holdings in shares of Target by 0.6% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after buying an additional 68 shares in the last quarter. Beacon Capital Management LLC grew its position in shares of Target by 20.8% in the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after buying an additional 69 shares during the last quarter. Integral Investment Advisors Inc. raised its stake in shares of Target by 5.3% during the 2nd quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after acquiring an additional 69 shares in the last quarter. Finally, Godshalk Welsh Capital Management Inc. raised its stake in shares of Target by 0.9% during the 4th quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock worth $1,158,000 after acquiring an additional 70 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Target

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of Target 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 owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at approximately $1,114,173.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the 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 sale, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

TGT has been the topic of several analyst reports. UBS Group lifted their price target on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price target on shares of Target in a report on Wednesday, August 21st. Daiwa America upgraded shares of Target to a “strong-buy” rating in a report on Monday, August 26th. Piper Sandler started coverage on shares of Target in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Target currently has an average rating of “Moderate Buy” and an average target price of $179.68.

Target Stock Up 2.0 %

TGT opened at $151.37 on Friday. The company has a fifty day moving average of $148.02 and a two-hundred day moving average of $155.02. The stock has a market capitalization of $69.73 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.90 and a beta of 1.24. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating 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 analyst estimates of $25.19 billion. During the same period last year, the company earned $1.80 earnings per share. Target’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts expect that Target Co. will post 9.53 earnings per share for the current year.

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.