Parallel Advisors LLC Buys 352 Shares of Target Co. (NYSE:TGT)

Parallel Advisors LLC increased its stake in shares of Target Co. (NYSE:TGT) by 3.1% in the 2nd quarter, Holdings Channel reports. The firm owned 11,742 shares of the retailer’s stock after buying an additional 352 shares during the period. Parallel Advisors LLC’s holdings in Target were worth $1,738,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Little House Capital LLC bought a new position in shares of Target during the 1st quarter valued at $1,041,000. Nordea Investment Management AB lifted its holdings in Target by 23.6% in the first quarter. Nordea Investment Management AB now owns 642,340 shares of the retailer’s stock valued at $112,686,000 after acquiring an additional 122,706 shares during the period. QRG Capital Management Inc. boosted its position in Target by 11.4% in the first quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock worth $11,618,000 after purchasing an additional 6,690 shares during the last quarter. Janney Capital Management LLC bought a new stake in shares of Target during the 1st quarter valued at about $13,958,000. Finally, United Services Automobile Association increased its position in shares of Target by 134.6% during the 4th quarter. United Services Automobile Association now owns 103,785 shares of the retailer’s stock valued at $14,781,000 after purchasing an additional 59,553 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction dated 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 owns 7,276 shares in the company, valued at approximately $1,114,173.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction 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 disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TGT shares. UBS Group upped their target price on shares of Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Evercore ISI raised their target price on Target from $158.00 to $160.00 and gave the stock an “inline” rating in a report on Thursday, August 22nd. BMO Capital Markets cut their price target on Target from $170.00 to $155.00 and set a “market perform” rating for the company in a report on Thursday, May 23rd. Royal Bank of Canada raised their price objective on Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, August 22nd. Finally, BNP Paribas assumed coverage on Target in a research note on Monday, June 3rd. They set an “underperform” rating and a $116.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Target presently has an average rating of “Moderate Buy” and a consensus target price of $179.68.

Target Stock Performance

Shares of NYSE:TGT opened at $151.36 on Monday. The firm 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 52 week low of $102.93 and a 52 week high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 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 PEG ratio of 1.90 and a beta of 1.24.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates 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% on a year-over-year basis. On average, analysts expect that Target Co. will post 9.53 earnings per share for the current fiscal year.

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.