Denver Investment Advisors LLC Has $14.33 Million Position in Target Co. (TGT)

Denver Investment Advisors LLC cut its holdings in Target Co. (NYSE:TGT) by 4.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 206,316 shares of the retailer’s stock after selling 10,366 shares during the period. Denver Investment Advisors LLC’s holdings in Target were worth $14,325,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TGT. Lee Financial Co boosted its holdings in Target by 168.7% in the 1st quarter. Lee Financial Co now owns 1,435 shares of the retailer’s stock worth $100,000 after buying an additional 901 shares during the period. Westside Investment Management Inc. boosted its holdings in Target by 128.6% in the 4th quarter. Westside Investment Management Inc. now owns 1,600 shares of the retailer’s stock worth $107,000 after buying an additional 900 shares during the period. Signaturefd LLC bought a new position in Target in the 1st quarter worth approximately $112,000. Security Asset Management bought a new position in Target in the 4th quarter worth approximately $115,000. Finally, First Mercantile Trust Co. bought a new position in Target in the 4th quarter worth approximately $124,000. 84.88% of the stock is owned by institutional investors.

Target opened at $71.17 on Thursday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.30 and a current ratio of 0.95. The firm has a market cap of $41.20 billion, a PE ratio of 15.11, a P/E/G ratio of 2.77 and a beta of 0.71. Target Co. has a fifty-two week low of $48.56 and a fifty-two week high of $78.70.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 23rd. The retailer reported $1.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.39 by ($0.07). The company had revenue of $16.78 billion for the quarter, compared to analysts’ expectations of $16.58 billion. Target had a net margin of 4.08% and a return on equity of 23.04%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. equities analysts forecast that Target Co. will post 5.29 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 10th. Stockholders of record on Wednesday, May 16th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Tuesday, May 15th. Target’s dividend payout ratio (DPR) is currently 52.65%.

Several research firms recently commented on TGT. Vetr downgraded shares of Target from a “hold” rating to a “sell” rating and set a $73.66 price objective for the company. in a report on Tuesday, February 27th. Citigroup reaffirmed a “neutral” rating and issued a $80.00 price objective (down from $86.00) on shares of Target in a report on Friday, February 16th. Zacks Investment Research upgraded shares of Target from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Tuesday. Credit Suisse Group initiated coverage on shares of Target in a research note on Monday, February 26th. They issued an “outperform” rating and a $86.00 target price on the stock. Finally, MKM Partners set a $93.00 target price on shares of Target and gave the stock a “buy” rating in a research note on Wednesday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Target has an average rating of “Hold” and a consensus target price of $74.26.

In other news, insider John J. Mulligan sold 118,373 shares of the firm’s stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $69.37, for a total transaction of $8,211,535.01. Following the sale, the insider now owns 195,906 shares in the company, valued at approximately $13,589,999.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Don H. Liu sold 2,735 shares of the firm’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $75.00, for a total transaction of $205,125.00. Following the sale, the insider now owns 62,210 shares in the company, valued at approximately $4,665,750. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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