Mercer Global Advisors Inc. ADV Purchases 5,740 Shares of Target Co. (NYSE:TGT)

Mercer Global Advisors Inc. ADV lifted its position in Target Co. (NYSE:TGT) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,755 shares of the retailer’s stock after purchasing an additional 5,740 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Target were worth $22,423,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TGT. Laurel Wealth Advisors LLC boosted its holdings in shares of Target by 14.1% during the second quarter. Laurel Wealth Advisors LLC now owns 347 shares of the retailer’s stock worth $84,000 after purchasing an additional 43 shares during the period. Glassman Wealth Services lifted its holdings in Target by 7.6% in the second quarter. Glassman Wealth Services now owns 609 shares of the retailer’s stock worth $147,000 after buying an additional 43 shares during the period. TCI Wealth Advisors Inc. lifted its holdings in Target by 4.9% in the second quarter. TCI Wealth Advisors Inc. now owns 964 shares of the retailer’s stock worth $233,000 after buying an additional 45 shares during the period. Secure Asset Management LLC lifted its holdings in Target by 2.8% in the second quarter. Secure Asset Management LLC now owns 1,753 shares of the retailer’s stock worth $424,000 after buying an additional 48 shares during the period. Finally, Key Financial Inc lifted its holdings in Target by 20.6% in the second quarter. Key Financial Inc now owns 281 shares of the retailer’s stock worth $73,000 after buying an additional 48 shares during the period. 76.73% of the stock is currently owned by hedge funds and other institutional investors.

TGT has been the subject of a number of analyst reports. Barclays raised their target price on shares of Target from $225.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, May 20th. MKM Partners raised their price target on shares of Target from $170.00 to $216.00 and gave the company a “neutral” rating in a research report on Tuesday, May 25th. BMO Capital Markets raised their price target on shares of Target from $225.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, May 24th. Argus raised their price target on shares of Target from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, June 23rd. Finally, Telsey Advisory Group raised their price target on shares of Target from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, August 13th. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Target currently has an average rating of “Buy” and an average target price of $252.30.

In other news, insider Don H. Liu sold 13,985 shares of the stock in a transaction on Friday, July 16th. The shares were sold at an average price of $253.90, for a total value of $3,550,791.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John J. Mulligan sold 80,782 shares of the stock in a transaction on Thursday, August 19th. The stock was sold at an average price of $247.20, for a total transaction of $19,969,310.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,744 shares of company stock valued at $34,106,184. 0.29% of the stock is owned by corporate insiders.

Target stock opened at $242.24 on Wednesday. The company’s 50-day moving average price is $253.16 and its 200-day moving average price is $225.98. Target Co. has a twelve month low of $146.45 and a twelve month high of $267.06. The company has a quick ratio of 0.46, a current ratio of 1.04 and a debt-to-equity ratio of 0.78. The company has a market cap of $118.22 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98.

Target (NYSE:TGT) last issued its quarterly earnings results on Tuesday, August 17th. The retailer reported $3.64 EPS for the quarter, beating the consensus estimate of $3.49 by $0.15. The company had revenue of $24.83 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.38 EPS. As a group, sell-side analysts expect that Target Co. will post 12.86 earnings per share for the current fiscal year.

Target announced that its board has authorized a share buyback program on Wednesday, August 18th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the retailer to reacquire up to 12.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

About Target

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.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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