Apexium Financial LP Buys New Stake in Target Co. (NYSE:TGT)

Apexium Financial LP bought a new stake in shares of Target Co. (NYSE:TGT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,718 shares of the retailer’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nadler Financial Group Inc. acquired a new position in shares of Target in the fourth quarter worth about $219,000. Accurate Investment Solutions Inc. raised its position in shares of Target by 516.0% in the fourth quarter. Accurate Investment Solutions Inc. now owns 1,195 shares of the retailer’s stock worth $153,000 after acquiring an additional 1,001 shares during the period. Verity & Verity LLC raised its position in shares of Target by 0.4% in the fourth quarter. Verity & Verity LLC now owns 71,122 shares of the retailer’s stock worth $9,119,000 after acquiring an additional 260 shares during the period. Valtinson Bruner Financial Planning LLC raised its position in shares of Target by 8.5% in the fourth quarter. Valtinson Bruner Financial Planning LLC now owns 4,235 shares of the retailer’s stock worth $523,000 after acquiring an additional 331 shares during the period. Finally, M&R Capital Management Inc. raised its position in shares of Target by 129.9% in the fourth quarter. M&R Capital Management Inc. now owns 1,437 shares of the retailer’s stock worth $184,000 after acquiring an additional 812 shares during the period. Institutional investors own 76.90% of the company’s stock.

NYSE TGT traded down $0.43 during trading hours on Wednesday, hitting $123.37. 461,099 shares of the company’s stock traded hands, compared to its average volume of 3,387,215. Target Co. has a 52-week low of $66.53 and a 52-week high of $130.24. The company has a market capitalization of $62.62 billion, a PE ratio of 22.99, a PEG ratio of 2.57 and a beta of 0.56. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.83 and a quick ratio of 0.15. The firm’s 50-day moving average is $126.37 and its 200-day moving average is $106.09.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.17. Target had a net margin of 4.18% and a return on equity of 28.22%. The company had revenue of $18.41 billion during the quarter, compared to analysts’ expectations of $18.45 billion. During the same quarter in the prior year, the company earned $1.09 EPS. Target’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Target Co. will post 6.38 earnings per share for the current fiscal year.

Target announced that its board has authorized a stock repurchase plan on Thursday, September 19th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the retailer to reacquire up to 9.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In other news, insider Don H. Liu sold 2,274 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $122.20, for a total value of $277,882.80. Following the completion of the sale, the insider now owns 37,616 shares of the company’s stock, valued at approximately $4,596,675.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephanie A. Lundquist sold 6,630 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $127.00, for a total transaction of $842,010.00. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

TGT has been the subject of a number of analyst reports. Credit Suisse Group set a $112.00 price objective on shares of Target and gave the stock a “buy” rating in a research report on Monday, September 23rd. Barclays reiterated a “buy” rating and issued a $135.00 price objective on shares of Target in a research report on Friday, November 22nd. KeyCorp reiterated a “buy” rating and issued a $140.00 price objective (up previously from $130.00) on shares of Target in a research report on Thursday, November 21st. Telsey Advisory Group upped their price objective on shares of Target from $120.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Cowen upped their price objective on shares of Target from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $117.19.

About Target

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 d├ęcor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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