TRUE Private Wealth Advisors Sells 1,715 Shares of Target Co. (NYSE:TGT)

TRUE Private Wealth Advisors decreased its position in shares of Target Co. (NYSE:TGT) by 42.5% in the 2nd quarter, Holdings Channel reports. The firm owned 2,316 shares of the retailer’s stock after selling 1,715 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Target were worth $560,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Emerald Advisers LLC acquired a new stake in shares of Target during the 2nd quarter worth approximately $31,000. Holloway Wealth Management LLC grew its position in shares of 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 buying an additional 83 shares during the period. Avion Wealth acquired a new stake in shares of Target during the 2nd quarter worth approximately $36,000. Godsey & Gibb Associates acquired a new stake in shares of Target during the 1st quarter worth approximately $42,000. Finally, Burleson & Company LLC acquired a new stake in shares of Target during the 1st quarter worth approximately $47,000. Hedge funds and other institutional investors own 76.73% of the company’s stock.

TGT traded down $0.33 during midday trading on Wednesday, hitting $241.91. The stock had a trading volume of 3,106 shares, compared to its average volume of 3,429,924. The company has a market cap of $118.06 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. The business has a fifty day moving average of $253.16 and a 200 day moving average of $225.98. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.46 and a current ratio of 1.04. Target Co. has a 1 year low of $146.45 and a 1 year high of $267.06.

Target (NYSE:TGT) last issued its earnings results on Tuesday, August 17th. The retailer reported $3.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.49 by $0.15. The business had revenue of $24.83 billion during the quarter, compared to analyst estimates of $25.03 billion. Target had a return on equity of 44.68% and a net margin of 6.29%. Target’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.38 earnings per share. On average, equities research analysts anticipate that Target Co. will post 12.86 earnings per share for the current year.

Target declared that its board has approved a stock repurchase program on Wednesday, August 18th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the retailer to buy up to 12.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other Target news, insider Don H. Liu sold 3,000 shares of the stock in a transaction on Friday, August 6th. The stock was sold at an average price of $261.93, for a total value of $785,790.00. Following the completion of the transaction, the insider now 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 the SEC website. Also, insider Don H. Liu sold 13,977 shares of the stock in a transaction on Wednesday, August 4th. The shares were 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 sold 136,744 shares of company stock valued at $34,106,184 in the last quarter. Corporate insiders own 0.29% of the company’s stock.

Several research firms recently issued reports on TGT. Morgan Stanley lifted their price target on shares of Target from $250.00 to $260.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 25th. DA Davidson reaffirmed a “buy” rating on shares of Target in a report on Thursday, August 19th. Zacks Investment Research downgraded shares of Target from a “buy” rating to a “hold” rating and set a $269.00 price objective on the stock. in a report on Friday, July 23rd. MKM Partners lifted their price objective on shares of Target from $170.00 to $216.00 and gave the stock a “neutral” rating in a report on Tuesday, May 25th. Finally, UBS Group raised shares of Target from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $210.00 to $265.00 in a report on Tuesday, June 8th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $252.30.

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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