LPL Financial LLC Has $101.10 Million Stock Position in Target Co. (NYSE:TGT)

LPL Financial LLC grew its holdings in shares of Target Co. (NYSE:TGT) by 9.2% in the second quarter, Holdings Channel reports. The institutional investor owned 682,927 shares of the retailer’s stock after acquiring an additional 57,581 shares during the period. LPL Financial LLC’s holdings in Target were worth $101,100,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. HHM Wealth Advisors LLC grew its holdings in shares of Target by 5,772.7% during the second quarter. HHM Wealth Advisors LLC now owns 2,584 shares of the retailer’s stock valued at $383,000 after buying an additional 2,540 shares during the last quarter. Biltmore Family Office LLC grew its holdings in shares of Target by 11.2% during the second quarter. Biltmore Family Office LLC now owns 1,927 shares of the retailer’s stock valued at $285,000 after buying an additional 194 shares during the last quarter. Vaughan David Investments LLC IL lifted its position in shares of Target by 0.4% during the second quarter. Vaughan David Investments LLC IL now owns 291,422 shares of the retailer’s stock valued at $43,142,000 after purchasing an additional 1,055 shares in the last quarter. Angeles Wealth Management LLC lifted its position in shares of Target by 72.8% during the second quarter. Angeles Wealth Management LLC now owns 1,977 shares of the retailer’s stock valued at $293,000 after purchasing an additional 833 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Target by 11.0% during the second quarter. Daiwa Securities Group Inc. now owns 53,249 shares of the retailer’s stock valued at $7,883,000 after purchasing an additional 5,270 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

Target stock opened at $148.47 on Friday. The firm’s 50 day simple moving average is $147.91 and its 200 day simple moving average is $155.01. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. Target Co. has a 1-year low of $102.93 and a 1-year high of $181.86. The firm has a market capitalization of $68.69 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $25.19 billion. During the same quarter last year, the business posted $1.80 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, analysts expect that Target Co. will post 9.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Oppenheimer dropped their price target on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Monday, August 26th. Citigroup raised their price target on shares of Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, Evercore ISI lifted their price objective on shares of Target from $158.00 to $160.00 and gave the stock an “inline” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Target presently has a consensus rating of “Moderate Buy” and an average target price of $179.68.

Insider Activity

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

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.