Baltimore Capital Management Inc. Acquires New Stake in Target Co. (NYSE:TGT)

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Baltimore Capital Management Inc. acquired a new stake in shares of Target Co. (NYSE:TGT) during the first quarter, Holdings Channel reports. The firm acquired 3,650 shares of the retailer’s stock, valued at approximately $293,000.

A number of other hedge funds have also recently bought and sold shares of TGT. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Target by 62.2% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 365 shares of the retailer’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. Phocas Financial Corp. bought a new position in shares of Target in the fourth quarter worth about $25,000. Icon Wealth Partners LLC bought a new position in shares of Target in the first quarter worth about $31,000. Advisory Alpha LLC bought a new position in shares of Target in the first quarter worth about $30,000. Finally, Loeb Partners Corp bought a new position in shares of Target in the fourth quarter worth about $28,000. Institutional investors and hedge funds own 83.47% of the company’s stock.

A number of research analysts have recently commented on TGT shares. Deutsche Bank upped their price target on shares of Target from $80.00 to $84.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Barclays upgraded shares of Target from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $115.00 in a report on Monday, April 29th. JPMorgan Chase & Co. upgraded shares of Target from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $81.00 to $100.00 in a report on Thursday, May 23rd. They noted that the move was a valuation call. Sanford C. Bernstein cut shares of Target from an “outperform” rating to a “market perform” rating and set a $76.05 price target on the stock. in a report on Thursday, May 2nd. Finally, UBS Group upped their price target on shares of Target from $77.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, May 23rd. Twelve analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $89.33.

In other Target news, insider Janna A. Potts sold 8,759 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $79.00, for a total transaction of $691,961.00. Following the completion of the sale, the insider now directly owns 27,720 shares of the company’s stock, valued at $2,189,880. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Edward Mcnamara sold 5,186 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $79.18, for a total transaction of $410,627.48. Following the sale, the insider now directly owns 77,550 shares of the company’s stock, valued at $6,140,409. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,736 shares of company stock worth $1,246,370. 0.19% of the stock is owned by company insiders.

Shares of Target stock opened at $88.26 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.19 and a debt-to-equity ratio of 1.21. Target Co. has a 1 year low of $60.15 and a 1 year high of $90.39. The stock has a market cap of $45.01 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 2.07 and a beta of 0.57.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 22nd. The retailer reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.10. Target had a net margin of 3.96% and a return on equity of 26.48%. The company had revenue of $17.63 billion for the quarter, compared to analysts’ expectations of $17.49 billion. During the same period in the prior year, the business earned $1.32 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts forecast that Target Co. will post 5.92 earnings per share for the current fiscal year.

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Target Profile

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

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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