Target Co. (NYSE:TGT) Stock Position Cut by Scotia Capital Inc.

Scotia Capital Inc. lessened its stake in Target Co. (NYSE:TGT) by 17.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 35,444 shares of the retailer’s stock after selling 7,461 shares during the quarter. Scotia Capital Inc.’s holdings in Target were worth $3,071,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Captrust Financial Advisors boosted its position in shares of Target by 0.5% during the 2nd quarter. Captrust Financial Advisors now owns 61,622 shares of the retailer’s stock valued at $5,337,000 after purchasing an additional 333 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Target by 21.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,555,720 shares of the retailer’s stock worth $307,961,000 after buying an additional 630,907 shares during the period. MUFG Securities EMEA plc boosted its holdings in shares of Target by 267.4% in the second quarter. MUFG Securities EMEA plc now owns 275,000 shares of the retailer’s stock worth $23,818,000 after buying an additional 200,153 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Target by 41.4% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 143,235 shares of the retailer’s stock worth $12,406,000 after buying an additional 41,935 shares during the period. Finally, MML Investors Services LLC boosted its holdings in shares of Target by 43.0% in the second quarter. MML Investors Services LLC now owns 57,214 shares of the retailer’s stock worth $4,955,000 after buying an additional 17,197 shares during the period. Hedge funds and other institutional investors own 82.09% of the company’s stock.

Several research analysts have commented on TGT shares. Bank of America raised their target price on shares of Target from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Citigroup upgraded shares of Target from a “neutral” rating to a “buy” rating and raised their target price for the stock from $80.00 to $130.00 in a report on Thursday, August 22nd. JPMorgan Chase & Co. set a $115.00 target price on shares of Target and gave the stock a “buy” rating in a report on Wednesday, August 21st. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, UBS Group raised their target price on shares of Target from $86.00 to $103.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $102.37.

Shares of NYSE TGT traded down $0.73 during mid-day trading on Friday, reaching $108.21. The company had a trading volume of 164,908 shares, compared to its average volume of 7,770,819. The stock has a fifty day moving average of $94.21 and a two-hundred day moving average of $84.24. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.21 and a current ratio of 0.84. The company has a market capitalization of $55.66 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 2.51 and a beta of 0.53. Target Co. has a 12-month low of $60.15 and a 12-month high of $110.94.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. The business had revenue of $18.42 billion during the quarter, compared to analyst estimates of $18.32 billion. Target had a net margin of 4.10% and a return on equity of 27.43%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.47 earnings per share. Sell-side analysts forecast that Target Co. will post 6.13 earnings per share for the current fiscal year.

In related news, CAO Robert M. Harrison sold 13,540 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $104.66, for a total transaction of $1,417,096.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Don H. Liu sold 4,140 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $99.92, for a total transaction of $413,668.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,369 shares of company stock worth $9,751,164. Insiders own 0.24% of the company’s stock.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials; food assortments, including perishables, dry grocery, dairy, and frozen items; and apparel, accessories, home décor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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