Allspring Global Investments Holdings LLC lessened its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 18.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 136,393 shares of the retailer's stock after selling 31,819 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Target were worth $14,244,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. Hopwood Financial Services Inc. acquired a new stake in shares of Target during the fourth quarter valued at $29,000. Bernard Wealth Management Corp. acquired a new stake in shares of Target during the 4th quarter worth about $29,000. Legacy Investment Solutions LLC grew its holdings in shares of Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after buying an additional 85 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of Target in the fourth quarter valued at approximately $36,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Target during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 79.73% of the company's stock.
Analysts Set New Price Targets
TGT has been the subject of several recent analyst reports. Piper Sandler set a $94.00 target price on shares of Target and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. BMO Capital Markets lowered their price objective on Target from $100.00 to $95.00 and set a "market perform" rating for the company in a research report on Thursday, May 22nd. Guggenheim reduced their target price on Target from $155.00 to $115.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. Telsey Advisory Group set a $110.00 price target on Target and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. Finally, Evercore ISI dropped their price objective on shares of Target from $130.00 to $120.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $116.70.
Check Out Our Latest Stock Report on TGT
Target Stock Down 1.2%
Shares of TGT traded down $1.29 during trading on Thursday, reaching $104.17. The company's stock had a trading volume of 3,535,290 shares, compared to its average volume of 6,232,152. The company has a market cap of $47.33 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 2.97 and a beta of 1.22. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The company has a fifty day moving average of $96.72 and a two-hundred day moving average of $112.14. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40.
Target (NYSE:TGT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). The company had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. Target had a net margin of 3.95% and a return on equity of 25.59%. The company's revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.03 earnings per share. On average, sell-side analysts predict that Target Corporation will post 8.69 EPS for the current fiscal year.
Target Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's dividend payout ratio is currently 50.11%.
Insider Transactions at Target
In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the transaction, the insider owned 246,453 shares in the company, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.
Target Company Profile
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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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