Prosperity Consulting Group LLC Trims Stock Holdings in Target Co. (NYSE:TGT)

Prosperity Consulting Group LLC reduced its stake in Target Co. (NYSE:TGT) by 30.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,295 shares of the retailer’s stock after selling 982 shares during the period. Prosperity Consulting Group LLC’s holdings in Target were worth $340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Little House Capital LLC purchased a new stake in Target in the 1st quarter valued at about $1,041,000. Nordea Investment Management AB grew its position in Target by 23.6% in the 1st 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 in the last quarter. QRG Capital Management Inc. grew its position in Target by 11.4% in the 1st quarter. QRG Capital Management Inc. now owns 65,558 shares of the retailer’s stock valued at $11,618,000 after acquiring an additional 6,690 shares in the last quarter. Janney Capital Management LLC acquired a new position in Target in the 1st quarter valued at about $13,958,000. Finally, United Services Automobile Association grew its position in Target by 134.6% in the 4th quarter. United Services Automobile Association now owns 103,785 shares of the retailer’s stock valued at $14,781,000 after acquiring an additional 59,553 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TGT shares. Bank of America lifted their target price on Target from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets raised Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research report on Monday, August 26th. Evercore ISI lifted their target price on Target from $158.00 to $160.00 and gave the company an “inline” rating in a research report on Thursday, August 22nd. Citigroup lifted their target price on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, UBS Group lifted their target price on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.68.

Target Price Performance

Shares of NYSE TGT opened at $151.36 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86. The stock has a 50 day moving average of $148.02 and a two-hundred day moving average of $155.04. The stock has a market cap of $69.73 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.90 and a beta of 1.24.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $25.19 billion. During the same quarter in the previous year, the business earned $1.80 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts forecast that Target Co. will post 9.53 earnings per share for the current year.

Insider Buying and Selling at Target

In other news, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 $1,114,173.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Brian C. Cornell sold 45,000 shares of the company’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 sale, the insider now owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

Target Profile

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.