American Century Companies Inc. Sells 399,653 Shares of Target Co. (NYSE:TGT)

American Century Companies Inc. lessened its stake in Target Co. (NYSE:TGT) by 24.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,258,792 shares of the retailer’s stock after selling 399,653 shares during the period. American Century Companies Inc.’s holdings in Target were worth $186,352,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TGT. LPL Financial LLC lifted its stake in Target by 9.2% during the second quarter. LPL Financial LLC now owns 682,927 shares of the retailer’s stock worth $101,100,000 after purchasing an additional 57,581 shares during the period. HHM Wealth Advisors LLC increased its holdings in shares of Target by 5,772.7% during the second quarter. HHM Wealth Advisors LLC now owns 2,584 shares of the retailer’s stock worth $383,000 after buying an additional 2,540 shares in the last quarter. Biltmore Family Office LLC increased its holdings in shares of Target by 11.2% during the second quarter. Biltmore Family Office LLC now owns 1,927 shares of the retailer’s stock worth $285,000 after buying an additional 194 shares in the last quarter. Vaughan David Investments LLC IL increased its holdings in shares of Target by 0.4% during the second quarter. Vaughan David Investments LLC IL now owns 291,422 shares of the retailer’s stock worth $43,142,000 after buying an additional 1,055 shares in the last quarter. Finally, Angeles Wealth Management LLC increased its holdings in shares of Target by 72.8% during the second quarter. Angeles Wealth Management LLC now owns 1,977 shares of the retailer’s stock worth $293,000 after buying an additional 833 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

TGT opened at $148.47 on Friday. The company has a market capitalization of $68.69 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.95 and a beta of 1.24. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $147.91 and a 200-day moving average price of $155.01. Target Co. has a twelve month low of $102.93 and a twelve month high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same period last year, the business earned $1.80 earnings per share. Target’s revenue was up 1.0% compared to the same quarter last year. Equities analysts expect that Target Co. will post 9.53 EPS for the current year.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 directly owns 303,843 shares in the company, valued at $48,210,768.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’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 of the company’s stock, valued at $1,114,173.88. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TGT. BMO Capital Markets dropped their price objective on shares of Target from $170.00 to $155.00 and set a “market perform” rating for the company in a report on Thursday, May 23rd. Robert W. Baird reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Target in a report on Thursday, May 23rd. Wells Fargo & Company raised their price objective on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price target on shares of Target in a report on Wednesday, August 21st. Finally, Daiwa America raised shares of Target to a “strong-buy” rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.68.

Target Company 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.