Marks Group Wealth Management Inc Decreases Holdings in Target Co. (NYSE:TGT)

Marks Group Wealth Management Inc decreased its holdings in Target Co. (NYSE:TGT) by 12.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,682 shares of the retailer’s stock after selling 3,912 shares during the period. Target makes up about 0.9% of Marks Group Wealth Management Inc’s holdings, making the stock its 16th biggest holding. Marks Group Wealth Management Inc’s holdings in Target were worth $6,454,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TGT. Dakota Wealth Management grew its stake in shares of Target by 34.6% during the first quarter. Dakota Wealth Management now owns 12,382 shares of the retailer’s stock valued at $2,453,000 after buying an additional 3,185 shares during the last quarter. HNP Capital LLC grew its position in Target by 58.6% during the 1st quarter. HNP Capital LLC now owns 9,679 shares of the retailer’s stock worth $1,917,000 after acquiring an additional 3,575 shares during the last quarter. WINTON GROUP Ltd increased its stake in Target by 6.0% in the 2nd quarter. WINTON GROUP Ltd now owns 11,640 shares of the retailer’s stock worth $2,814,000 after purchasing an additional 661 shares during the period. Moors & Cabot Inc. increased its stake in shares of Target by 4.6% in the first quarter. Moors & Cabot Inc. now owns 11,837 shares of the retailer’s stock worth $2,351,000 after buying an additional 524 shares during the period. Finally, Intersect Capital LLC raised its holdings in Target by 13.6% during the 2nd quarter. Intersect Capital LLC now owns 8,401 shares of the retailer’s stock valued at $2,031,000 after buying an additional 1,003 shares during the last quarter. 76.73% of the stock is currently owned by institutional investors.

TGT has been the subject of several recent analyst reports. MKM Partners upped their price objective on shares of Target from $170.00 to $216.00 and gave the company a “neutral” rating in a research note on Tuesday, May 25th. DA Davidson reiterated a “buy” rating on shares of Target in a report on Thursday, August 19th. Raymond James boosted their target price on Target from $252.00 to $285.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 19th. Zacks Investment Research cut shares of Target from a “buy” rating to a “hold” rating and set a $269.00 price target on the stock. in a report on Friday, July 23rd. Finally, BMO Capital Markets upped their price objective on shares of Target from $225.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, May 24th. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $252.30.

Shares of NYSE TGT traded up $2.10 during trading on Wednesday, reaching $244.34. 62,706 shares of the company traded hands, compared to its average volume of 3,429,924. The firm has a 50 day simple moving average of $253.16 and a 200-day simple moving average of $225.98. Target Co. has a 52-week low of $146.45 and a 52-week high of $267.06. The stock has a market capitalization of $119.25 billion, a PE ratio of 19.44, a P/E/G ratio of 1.36 and a beta of 0.98. The company has a quick ratio of 0.46, a current ratio of 1.04 and a debt-to-equity ratio of 0.78.

Target (NYSE:TGT) last posted its earnings results on Tuesday, August 17th. The retailer reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.15. The business had revenue of $24.83 billion during the quarter, compared to the consensus estimate of $25.03 billion. Target had a net margin of 6.29% and a return on equity of 44.68%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.38 EPS. As a group, research analysts predict that Target Co. will post 12.86 EPS for the current year.

Target declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 18th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the retailer to purchase up to 12.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

In related news, insider Don H. Liu sold 13,977 shares of the business’s stock in a transaction that occurred on Wednesday, August 4th. The stock was sold at an average price of $261.20, for a total transaction of $3,650,792.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Don H. Liu sold 3,000 shares of Target stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $261.93, for a total transaction of $785,790.00. Following the transaction, the insider now directly owns 62,017 shares in the company, valued at approximately $16,244,112.81. The disclosure for this sale can be found here. In the last three months, insiders sold 136,744 shares of company stock worth $34,106,184. 0.29% of the stock is owned by corporate insiders.

Target Company Profile

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

Further Reading: What is the definition of market timing?

Want to see what other hedge funds are holding TGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Target Co. (NYSE:TGT).

Institutional Ownership by Quarter for Target (NYSE:TGT)

Receive News & Ratings for Target Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Target and related companies with MarketBeat.com's FREE daily email newsletter.