Alerus Financial NA lowered its holdings in shares of Target Co. (NYSE:TGT – Get Rating) by 85.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,728 shares of the retailer’s stock after selling 21,325 shares during the period. Alerus Financial NA’s holdings in Target were worth $556,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cetera Advisor Networks LLC raised its position in Target by 21.3% during the fourth quarter. Cetera Advisor Networks LLC now owns 114,710 shares of the retailer’s stock worth $17,096,000 after acquiring an additional 20,151 shares during the last quarter. DDD Partners LLC raised its position in Target by 1.6% during the fourth quarter. DDD Partners LLC now owns 103,687 shares of the retailer’s stock worth $15,453,000 after acquiring an additional 1,660 shares during the last quarter. Amundi raised its position in Target by 102.5% during the fourth quarter. Amundi now owns 3,145,204 shares of the retailer’s stock worth $499,993,000 after acquiring an additional 1,592,285 shares during the last quarter. Cary Street Partners Asset Management LLC raised its position in Target by 24.3% during the fourth quarter. Cary Street Partners Asset Management LLC now owns 14,290 shares of the retailer’s stock worth $2,130,000 after acquiring an additional 2,796 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. grew its holdings in shares of Target by 7.5% during the fourth quarter. Laurel Wealth Advisors Inc. now owns 5,140 shares of the retailer’s stock worth $766,000 after buying an additional 359 shares in the last quarter. Institutional investors and hedge funds own 78.86% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $155.00 price target on shares of Target in a report on Monday, February 13th. Citigroup downgraded shares of Target from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $177.00 to $130.00 in a report on Friday. Telsey Advisory Group reiterated an “outperform” rating and set a $185.00 price target on shares of Target in a report on Wednesday, March 1st. Robert W. Baird lifted their price target on shares of Target from $180.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Finally, Cowen lowered their price target on shares of Target from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, February 15th. Fourteen research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Target has an average rating of “Moderate Buy” and a consensus price target of $178.10.
Target Trading Down 0.4 %
Target (NYSE:TGT – Get Rating) last posted its earnings results on Wednesday, May 17th. The retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.29. Target had a net margin of 2.49% and a return on equity of 24.49%. The business had revenue of $24.95 billion for the quarter, compared to analysts’ expectations of $25.28 billion. During the same period in the previous year, the company posted $2.19 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts predict that Target Co. will post 8.25 EPS for the current fiscal year.
Insider Activity at Target
In related news, CAO Matthew A. Liegel sold 1,459 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $160.75, for a total value of $234,534.25. Following the sale, the chief accounting officer now directly owns 3,748 shares of the company’s stock, valued at $602,491. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.
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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