DAVENPORT & Co LLC Buys 2,098 Shares of Target Co. (NYSE:TGT)

DAVENPORT & Co LLC boosted its holdings in shares of Target Co. (NYSE:TGT) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,086 shares of the retailer’s stock after acquiring an additional 2,098 shares during the quarter. DAVENPORT & Co LLC’s holdings in Target were worth $2,986,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Target in the 3rd quarter worth $28,000. Wolff Wiese Magana LLC lifted its holdings in shares of Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares during the period. MCF Advisors LLC lifted its holdings in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after buying an additional 163 shares during the period. Raleigh Capital Management Inc. raised its position in shares of Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after acquiring an additional 135 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of Target in the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Guggenheim boosted their price target on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. TD Cowen reduced their target price on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Piper Sandler reduced their target price on Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research report on Thursday, November 21st. Bank of America reduced their target price on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, BMO Capital Markets reduced their target price on Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $157.70.

Target Price Performance

TGT stock opened at $135.57 on Wednesday. The business has a fifty day moving average of $134.87 and a two-hundred day moving average of $144.21. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The stock has a market cap of $62.12 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.15. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. During the same period last year, the business earned $2.10 EPS. Target’s revenue was up .9% compared to the same quarter last year. As a group, research analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.30%. Target’s dividend payout ratio is currently 47.51%.

Target Company Profile

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.