Abound Wealth Management Has $56,000 Stake in Target Co. (NYSE:TGT)

Abound Wealth Management lifted its holdings in Target Co. (NYSE:TGT) by 97.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381 shares of the retailer’s stock after acquiring an additional 188 shares during the quarter. Abound Wealth Management’s holdings in Target were worth $56,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Target by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 44,945,524 shares of the retailer’s stock valued at $6,401,142,000 after purchasing an additional 417,818 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Target by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 9,531,846 shares of the retailer’s stock valued at $1,357,525,000 after buying an additional 137,180 shares during the period. Norges Bank bought a new stake in shares of Target during the fourth quarter worth $759,810,000. Victory Capital Management Inc. lifted its stake in shares of Target by 11.4% during the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after acquiring an additional 440,307 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in Target by 17.5% in the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after acquiring an additional 470,647 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TGT. Wells Fargo & Company boosted their price objective on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Citigroup increased their price objective on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Roth Mkm upped their target price on shares of Target from $153.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. UBS Group lifted their price objective on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Target from $209.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, eight have issued 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, the company has an average rating of “Moderate Buy” and an average price target of $179.68.

Target Price Performance

NYSE:TGT opened at $151.36 on Monday. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The firm has a market capitalization of $70.02 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 1.90 and a beta of 1.24. The stock’s 50 day moving average price is $148.02 and its two-hundred day moving average price is $155.07. 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 announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (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 business had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter last year, the firm posted $1.80 EPS. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Matthew A. Liegel sold 1,000 shares of the 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 sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction 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 sale, the insider now owns 303,843 shares of the company’s stock, valued at $48,210,768.81. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

About Target

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.