Parallel Advisors LLC Grows Position in Target Co. (NYSE:TGT)

Parallel Advisors LLC lifted its holdings in shares of Target Co. (NYSE:TGT) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,742 shares of the retailer’s stock after purchasing an additional 352 shares during the quarter. Parallel Advisors LLC’s holdings in Target were worth $1,738,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. SYM FINANCIAL Corp purchased a new stake in shares of Target during the 2nd quarter valued at $298,000. Zions Bancorporation N.A. raised its position in Target by 9.3% during the second quarter. Zions Bancorporation N.A. now owns 23,610 shares of the retailer’s stock valued at $3,495,000 after purchasing an additional 2,009 shares in the last quarter. Valley Wealth Managers Inc. lifted its stake in Target by 19.9% during the second quarter. Valley Wealth Managers Inc. now owns 112,103 shares of the retailer’s stock worth $16,596,000 after purchasing an additional 18,567 shares during the last quarter. GHP Investment Advisors Inc. increased its position in shares of Target by 1.1% during the 2nd quarter. GHP Investment Advisors Inc. now owns 75,132 shares of the retailer’s stock valued at $11,123,000 after purchasing an additional 803 shares during the last quarter. Finally, TradeLink Capital LLC purchased a new position in shares of Target during the 2nd quarter valued at about $222,000. 79.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $7,140,150.00. Following the completion of the sale, the insider now 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 through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Target Price Performance

TGT opened at $151.36 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The company has a market cap of $70.02 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The stock has a fifty day simple moving average of $148.02 and a two-hundred day simple moving average of $155.07. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $1.80 EPS. Research analysts predict that Target Co. will post 9.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TGT. Robert W. Baird reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Target in a research note on Thursday, May 23rd. Bank of America increased their target price on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. BNP Paribas assumed coverage on shares of Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 price target for the company. BMO Capital Markets reduced their price objective on Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a research note on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Target from $209.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Target has a consensus rating of “Moderate Buy” and a consensus price target of $179.68.

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.