Hexagon Capital Partners LLC grew its holdings in Target Co. (NYSE:TGT) by 29.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,745 shares of the retailer’s stock after acquiring an additional 620 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Target were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Target by 4.4% in the first quarter. BlackRock Inc. now owns 38,768,116 shares of the retailer’s stock valued at $7,678,800,000 after acquiring an additional 1,633,495 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Target by 5.8% in the first quarter. Ameriprise Financial Inc. now owns 9,289,773 shares of the retailer’s stock valued at $1,840,046,000 after acquiring an additional 509,194 shares during the period. Geode Capital Management LLC boosted its position in shares of Target by 3.8% in the first quarter. Geode Capital Management LLC now owns 7,852,914 shares of the retailer’s stock valued at $1,551,203,000 after acquiring an additional 289,556 shares during the period. Jennison Associates LLC boosted its position in shares of Target by 1,562.3% in the first quarter. Jennison Associates LLC now owns 4,514,325 shares of the retailer’s stock valued at $894,152,000 after acquiring an additional 4,242,754 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Target by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 4,244,381 shares of the retailer’s stock worth $840,685,000 after purchasing an additional 48,901 shares during the period. 76.73% of the stock is owned by institutional investors.
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 owns 62,017 shares in the company, valued at $16,244,112.81. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Don H. Liu sold 13,977 shares of the firm’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. Over the last quarter, insiders sold 136,744 shares of company stock valued at $34,106,184. Corporate insiders own 0.29% of the company’s stock.
Target (NYSE:TGT) last announced its quarterly earnings data on Tuesday, August 17th. The retailer reported $3.64 EPS for the quarter, topping the Zacks’ consensus estimate of $3.49 by $0.15. The firm 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%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the company earned $3.38 earnings per share. On average, equities analysts predict that Target Co. will post 12.86 earnings per share for the current fiscal year.
Target declared that its board has authorized a stock buyback plan on Wednesday, August 18th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the retailer to reacquire up to 12.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Several brokerages recently commented on TGT. Zacks Investment Research cut Target from a “buy” rating to a “hold” rating and set a $269.00 target price for the company. in a research report on Friday, July 23rd. DA Davidson reaffirmed a “buy” rating on shares of Target in a research report on Thursday, August 19th. Deutsche Bank Aktiengesellschaft raised their target price on Target from $258.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, August 11th. Raymond James lifted their price objective on Target from $252.00 to $285.00 and gave the company a “strong-buy” rating in a report on Thursday, August 19th. Finally, BMO Capital Markets lifted their price objective on Target from $225.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, May 24th. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $252.30.
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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