DAVENPORT & Co LLC Sells 26,264 Shares of Target Co. (NYSE:TGT)

DAVENPORT & Co LLC lessened its holdings in Target Co. (NYSE:TGTFree Report) by 5.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 441,516 shares of the retailer’s stock after selling 26,264 shares during the period. DAVENPORT & Co LLC owned about 0.10% of Target worth $62,896,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Welch Group LLC increased its holdings in Target by 0.5% in the 4th quarter. Welch Group LLC now owns 33,140 shares of the retailer’s stock worth $4,720,000 after acquiring an additional 180 shares in the last quarter. Drive Wealth Management LLC purchased a new stake in Target in the 4th quarter worth approximately $209,000. Berkshire Bank increased its holdings in Target by 4.9% in the 4th quarter. Berkshire Bank now owns 5,542 shares of the retailer’s stock worth $789,000 after acquiring an additional 259 shares in the last quarter. Monte Financial Group LLC increased its holdings in Target by 17.6% in the 4th quarter. Monte Financial Group LLC now owns 47,673 shares of the retailer’s stock worth $6,790,000 after acquiring an additional 7,129 shares in the last quarter. Finally, SNS Financial Group LLC increased its holdings in Target by 1.3% in the 4th quarter. SNS Financial Group LLC now owns 10,395 shares of the retailer’s stock worth $1,480,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TGT shares. Oppenheimer increased their price objective on shares of Target from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Morgan Stanley increased their price objective on shares of Target from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Stifel Nicolaus increased their price objective on shares of Target from $153.00 to $177.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. BMO Capital Markets increased their price objective on shares of Target from $145.00 to $170.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Finally, Bank of America increased their price objective on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $180.12.

Check Out Our Latest Report on Target

Insider Buying and Selling

In related news, insider Christina Hennington sold 4,600 shares of Target stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $170.88, for a total transaction of $786,048.00. Following the completion of the sale, the insider now owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Target news, insider Christina Hennington sold 4,600 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the transaction, the insider now directly owns 38,487 shares of the company’s stock, valued at $6,576,658.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the completion of the transaction, the insider now directly owns 30,527 shares of the company’s stock, valued at $5,038,481.35. The disclosure for this sale can be found here. Insiders sold 52,600 shares of company stock valued at $8,819,598 over the last quarter. 0.23% of the stock is currently owned by company insiders.

Target Stock Down 0.9 %

TGT traded down $1.58 on Tuesday, hitting $176.24. The company had a trading volume of 3,021,775 shares, compared to its average volume of 3,931,066. The stock has a fifty day moving average price of $156.27 and a 200-day moving average price of $135.87. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. The stock has a market capitalization of $81.37 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 1.66 and a beta of 1.14.

Target (NYSE:TGTGet Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.57. Target had a return on equity of 33.41% and a net margin of 3.85%. The business had revenue of $31.47 billion for the quarter, compared to analyst estimates of $31.83 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Analysts predict that Target Co. will post 9.39 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is 49.27%.

Target Company Profile

(Free Report)

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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