Obermeyer Wood Investment Counsel Lllp Lowers Position in Target Co. (NYSE:TGT)

Obermeyer Wood Investment Counsel Lllp lessened its holdings in Target Co. (NYSE:TGT) by 7.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 360,769 shares of the retailer’s stock after selling 29,959 shares during the period. Target accounts for approximately 2.8% of Obermeyer Wood Investment Counsel Lllp’s portfolio, making the stock its 18th largest holding. Obermeyer Wood Investment Counsel Lllp owned approximately 0.07% of Target worth $31,246,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Comerica Securities Inc. lifted its holdings in shares of Target by 12.9% in the 4th quarter. Comerica Securities Inc. now owns 8,930 shares of the retailer’s stock worth $590,000 after acquiring an additional 1,020 shares during the last quarter. Geode Capital Management LLC raised its position in Target by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 6,980,549 shares of the retailer’s stock worth $460,727,000 after buying an additional 381,831 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Target by 6.2% during the 1st quarter. Victory Capital Management Inc. now owns 176,863 shares of the retailer’s stock valued at $14,195,000 after acquiring an additional 10,290 shares during the period. Goelzer Investment Management Inc. lifted its stake in Target by 1.9% during the 1st quarter. Goelzer Investment Management Inc. now owns 85,216 shares of the retailer’s stock valued at $6,839,000 after acquiring an additional 1,617 shares during the period. Finally, Cambridge Financial Group Inc. boosted its holdings in shares of Target by 2.5% during the 1st quarter. Cambridge Financial Group Inc. now owns 81,216 shares of the retailer’s stock valued at $6,518,000 after acquiring an additional 1,952 shares during the last quarter. 82.09% of the stock is owned by institutional investors.

TGT has been the subject of several research reports. Robert W. Baird set a $115.00 price objective on shares of Target and gave the company a “buy” rating in a report on Wednesday, August 21st. ValuEngine raised shares of Target from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Credit Suisse Group set a $90.00 price objective on shares of Target and gave the company a “buy” rating in a research report on Thursday, May 23rd. Morgan Stanley lifted their target price on shares of Target from $76.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Finally, Goldman Sachs Group started coverage on shares of Target in a research note on Thursday, July 11th. They set a “buy” rating and a $102.00 target price on the stock. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $102.37.



In related news, Director Roxanne S. Austin sold 4,163 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $89.00, for a total transaction of $370,507.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cathy R. Smith sold 8,412 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $104.40, for a total value of $878,212.80. The disclosure for this sale can be found here. Insiders sold 97,532 shares of company stock worth $10,121,671 over the last ninety days. Insiders own 0.24% of the company’s stock.

TGT traded up $0.14 during trading on Wednesday, hitting $108.97. 3,527,727 shares of the company traded hands, compared to its average volume of 7,995,068. The company has a market cap of $55.15 billion, a PE ratio of 20.22, a P/E/G ratio of 2.49 and a beta of 0.53. The stock’s 50-day simple moving average is $93.78 and its two-hundred day simple moving average is $84.06. Target Co. has a 1 year low of $60.15 and a 1 year high of $110.94. The company has a current ratio of 0.84, a quick ratio of 0.21 and a debt-to-equity ratio of 1.05.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 21st. The retailer reported $1.82 EPS for the quarter, topping the consensus estimate of $1.61 by $0.21. Target had a net margin of 4.10% and a return on equity of 27.43%. The business had revenue of $18.42 billion for the quarter, compared to analysts’ expectations of $18.32 billion. During the same quarter in the previous year, the company earned $1.47 EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities analysts expect that Target Co. will post 6.13 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.66 per share. This is a positive change from Target’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.42%. Target’s dividend payout ratio (DPR) is presently 48.98%.

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 décor products, electronics, toys, seasonal offerings, and other merchandise.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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