BerganKDV Wealth Management LLC boosted its position in Target Co. (NYSE:TGT) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,284 shares of the retailer’s stock after buying an additional 583 shares during the quarter. Target accounts for approximately 0.8% of BerganKDV Wealth Management LLC’s holdings, making the stock its 23rd biggest holding. BerganKDV Wealth Management LLC’s holdings in Target were worth $7,079,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Emerald Advisers LLC bought a new stake in shares of Target in the second quarter worth $31,000. Holloway Wealth Management LLC grew its holdings in Target by 166.0% during the 2nd quarter. Holloway Wealth Management LLC now owns 133 shares of the retailer’s stock worth $32,000 after acquiring an additional 83 shares in the last quarter. Avion Wealth bought a new stake in shares of Target in the 2nd quarter worth about $36,000. Godsey & Gibb Associates acquired a new stake in shares of Target in the 1st quarter valued at about $42,000. Finally, Burleson & Company LLC acquired a new position in shares of Target in the 1st quarter worth approximately $47,000. 76.73% of the stock is owned by institutional investors.
Shares of NYSE TGT traded up $2.27 during mid-day trading on Wednesday, hitting $244.51. 57,869 shares of the company traded hands, compared to its average volume of 3,429,924. The company has a quick ratio of 0.46, a current ratio of 1.04 and a debt-to-equity ratio of 0.78. Target Co. has a 1 year low of $146.45 and a 1 year high of $267.06. The stock has a market capitalization of $119.33 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.36 and a beta of 0.98. The business has a 50 day moving average of $253.16 and a two-hundred day moving average of $225.98.
Target declared that its board has authorized a share buyback program on Wednesday, August 18th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the retailer to buy up to 12.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Target news, insider Don H. Liu sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $261.93, for a total transaction of $785,790.00. Following the transaction, the insider now directly owns 62,017 shares in the company, valued at $16,244,112.81. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Don H. Liu sold 13,977 shares of the company’s stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $261.20, for a total value of $3,650,792.40. The disclosure for this sale can be found here. Insiders have sold 136,744 shares of company stock worth $34,106,184 over the last ninety days. 0.29% of the stock is currently owned by insiders.
TGT has been the subject of several recent research reports. BMO Capital Markets upped their target price on Target from $225.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, May 24th. DA Davidson reaffirmed a “buy” rating on shares of Target in a research report on Thursday, August 19th. Zacks Investment Research cut Target from a “buy” rating to a “hold” rating and set a $269.00 target price on the stock. in a research note on Friday, July 23rd. Telsey Advisory Group upped their price target on shares of Target from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, August 13th. Finally, UBS Group upgraded shares of Target from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $210.00 to $265.00 in a research report on Tuesday, June 8th. They noted that the move was a valuation call. 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 company. According to MarketBeat, Target has a consensus rating of “Buy” and a consensus price target of $252.30.
Target Company Profile
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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