Allspring Global Investments Holdings LLC Sells 15,153 Shares of Target Co. (NYSE:TGT)

Allspring Global Investments Holdings LLC trimmed its position in Target Co. (NYSE:TGT - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,212 shares of the retailer's stock after selling 15,153 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Target were worth $23,076,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning grew its stake in shares of Target by 10.3% during the third quarter. Creative Planning now owns 218,600 shares of the retailer's stock worth $32,247,000 after purchasing an additional 20,360 shares during the period. nVerses Capital LLC bought a new position in Target during the third quarter worth about $47,000. Good Life Advisors LLC grew its position in shares of Target by 3.7% during the 3rd quarter. Good Life Advisors LLC now owns 4,391 shares of the retailer's stock worth $684,000 after buying an additional 158 shares during the period. Trust Co. of Vermont increased its stake in shares of Target by 0.4% in the 3rd quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer's stock valued at $2,444,000 after acquiring an additional 69 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Target by 2.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 56,310 shares of the retailer's stock valued at $8,776,000 after acquiring an additional 1,181 shares during the period. 79.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on TGT. Citigroup boosted their price objective on shares of Target from $130.00 to $133.00 and gave the company a "neutral" rating in a report on Friday, January 17th. TD Cowen lowered their price objective on shares of Target from $165.00 to $145.00 and set a "hold" rating for the company in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft downgraded Target from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $184.00 to $108.00 in a research note on Wednesday, November 20th. Telsey Advisory Group reissued an "outperform" rating and issued a $150.00 target price on shares of Target in a research note on Friday, January 17th. Finally, Piper Sandler dropped their price target on Target from $156.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $157.70.

Target Stock Performance

Shares of TGT traded up $0.65 during midday trading on Wednesday, reaching $130.76. The stock had a trading volume of 3,076,869 shares, compared to its average volume of 4,938,458. The firm has a market cap of $59.92 billion, a PE ratio of 13.87, a P/E/G ratio of 1.94 and a beta of 1.15. The firm has a 50 day simple moving average of $134.86 and a 200-day simple moving average of $142.93. Target Co. has a one year low of $120.21 and a one year high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The company's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.10 EPS. As a group, sell-side analysts anticipate that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Wednesday, February 12th. Target's payout ratio is presently 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.