DAVENPORT & Co LLC Grows Stake in Target Co. (TGT)

DAVENPORT & Co LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 59.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,425 shares of the retailer’s stock after buying an additional 4,263 shares during the quarter. DAVENPORT & Co LLC’s holdings in Target were worth $745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGT. Dodge & Cox grew its position in Target by 83.3% during the second quarter. Dodge & Cox now owns 20,025,223 shares of the retailer’s stock valued at $1,047,119,000 after buying an additional 9,102,526 shares during the period. Capital Research Global Investors bought a new stake in Target during the second quarter valued at approximately $235,305,000. Franklin Resources Inc. grew its position in Target by 8.7% during the second quarter. Franklin Resources Inc. now owns 21,112,915 shares of the retailer’s stock valued at $1,103,994,000 after buying an additional 1,686,774 shares during the period. American Century Companies Inc. grew its position in Target by 45.1% during the third quarter. American Century Companies Inc. now owns 5,238,106 shares of the retailer’s stock valued at $309,101,000 after buying an additional 1,629,222 shares during the period. Finally, Miller Howard Investments Inc. NY bought a new stake in Target during the third quarter valued at approximately $65,948,000. Institutional investors own 87.43% of the company’s stock.

Target Co. (TGT) opened at $76.82 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.27 and a current ratio of 0.96. Target Co. has a 12-month low of $48.56 and a 12-month high of $77.58. The firm has a market cap of $41,760.00, a price-to-earnings ratio of 16.14, a P/E/G ratio of 4.87 and a beta of 0.63.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 15th. The retailer reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.05. Target had a net margin of 3.80% and a return on equity of 24.09%. The firm had revenue of $16.67 billion during the quarter, compared to analyst estimates of $16.61 billion. During the same quarter in the prior year, the business earned $1.04 earnings per share. Target’s revenue for the quarter was up 1.4% on a year-over-year basis. analysts expect that Target Co. will post 4.72 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Wednesday, February 21st will be given a dividend of $0.62 per share. The ex-dividend date is Tuesday, February 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.23%. Target’s dividend payout ratio is 52.10%.

In related news, Director Roxanne S. Austin sold 4,705 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $62.61, for a total transaction of $294,580.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

A number of equities analysts have weighed in on TGT shares. Vetr lowered shares of Target from a “strong-buy” rating to a “buy” rating and set a $64.00 price target for the company. in a research report on Monday, November 20th. Zacks Investment Research lowered shares of Target from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Morgan Stanley dropped their price target on shares of Target from $52.00 to $50.00 and set an “underweight” rating for the company in a research report on Thursday, November 16th. Barclays set a $45.00 price target on shares of Target and gave the stock a “sell” rating in a research report on Wednesday, November 15th. Finally, MKM Partners set a $77.00 price target on shares of Target and gave the stock a “buy” rating in a research report on Thursday, December 14th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $66.15.

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Target Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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