Sawgrass Asset Management LLC Makes New $12.33 Million Investment in Target Co. (NYSE:TGT)

Sawgrass Asset Management LLC acquired a new position in shares of Target Co. (NYSE:TGTGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 58,121 shares of the retailer’s stock, valued at approximately $12,334,000. Target makes up approximately 1.3% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 25th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Landmark Wealth Management LLC bought a new position in shares of Target in the first quarter valued at approximately $25,000. Blume Capital Management Inc. bought a new position in shares of Target in the first quarter valued at approximately $25,000. Delos Wealth Advisors LLC bought a new position in shares of Target in the fourth quarter valued at approximately $29,000. Roble Belko & Company Inc bought a new position in shares of Target in the first quarter valued at approximately $32,000. Finally, Cornerstone Advisory LLC bought a new position in shares of Target in the fourth quarter valued at approximately $36,000. 77.42% of the stock is owned by institutional investors.

Target Stock Performance

NYSE:TGT opened at $166.24 on Wednesday. The business has a 50 day moving average of $161.72 and a 200 day moving average of $184.50. The company has a market capitalization of $76.51 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.17 and a beta of 1.02. Target Co. has a 1-year low of $137.16 and a 1-year high of $268.98. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.14.

Target (NYSE:TGTGet Rating) last announced its quarterly earnings data on Wednesday, August 17th. The retailer reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.33). Target had a net margin of 3.92% and a return on equity of 35.15%. The company had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $26.07 billion. During the same quarter in the previous year, the firm posted $3.64 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts predict that Target Co. will post 8.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TGT shares. Guggenheim upped their target price on Target to $190.00 in a report on Monday, August 22nd. Credit Suisse Group dropped their price objective on Target from $286.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, May 23rd. StockNews.com downgraded Target from a “buy” rating to a “hold” rating in a research note on Saturday, May 28th. Bank of America upped their price objective on Target from $165.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. Finally, The Goldman Sachs Group upped their price objective on Target from $155.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.42.

Insider Buying and Selling at Target

In other Target news, CAO Matthew A. Liegel sold 1,226 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $173.80, for a total value of $213,078.80. Following the completion of the sale, the chief accounting officer now owns 2,812 shares in the company, valued at $488,725.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Matthew A. Liegel sold 1,226 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $173.80, for a total transaction of $213,078.80. Following the completion of the transaction, the chief accounting officer now owns 2,812 shares in the company, valued at $488,725.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John J. Mulligan sold 45,490 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $139.98, for a total value of $6,367,690.20. Following the transaction, the insider now owns 157,333 shares of the company’s stock, valued at approximately $22,023,473.34. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Target Profile

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Target Corporation operates as a general merchandise retailer in the United States. The company offers food assortments, including perishables, dry grocery, dairy, and frozen items; apparel, accessories, home décor products, electronics, toys, seasonal offerings, food, and other merchandise; and beauty and household essentials.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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