Thoroughbred Financial Services LLC Has $1.02 Million Position in Target Co. (NYSE:TGT)

Thoroughbred Financial Services LLC increased its stake in shares of Target Co. (NYSE:TGT) by 186.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,889 shares of the retailer’s stock after purchasing an additional 4,481 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Target were worth $1,019,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Triad Wealth Partners LLC acquired a new stake in Target in the second quarter valued at approximately $25,000. Washington Trust Advisors Inc. lifted its stake in Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Slocum Gordon & Co LLP acquired a new stake in Target in the second quarter valued at approximately $28,000. Retirement Group LLC lifted its stake in Target by 85.0% in the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after acquiring an additional 91 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Target in the fourth quarter valued at approximately $28,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

NYSE:TGT opened at $151.36 on Monday. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The firm has a 50 day moving average of $148.02 and a 200-day moving average of $155.07. 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 stock has a market capitalization of $70.02 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24.

Target (NYSE:TGT) last posted its 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. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same quarter in the previous year, the company posted $1.80 earnings per share. Target’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Target Co. will post 9.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on TGT. TD Cowen lifted their target price on shares of Target from $165.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Stifel Nicolaus lifted their price target on shares of Target from $147.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. Truist Financial lifted their price target on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research report on Thursday, August 22nd. BMO Capital Markets dropped their price target on shares of Target from $170.00 to $155.00 and set a “market perform” rating on the stock in a research report on Thursday, May 23rd. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.68.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of Target 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 completion of the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Brian C. Cornell sold 45,000 shares of Target 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 completion of the transaction, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’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 transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate 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.