Target Corporation $TGT Stake Reduced by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC has reduced its stake in Target Corporation (NYSE:TGT) by 8.6%, selling 38,045 shares and now holding 401,830 shares valued at approximately $41.9 million.
• Target reported earnings per share (EPS) of $1.30 for the last quarter, missing the consensus estimate by $0.35, and experienced a 2.8% year-over-year decline in revenue.
• The company announced a quarterly dividend of $1.12 per share, which represents an annualized dividend yield of 4.3%, with a payout ratio of approximately 50.11%.

Brandywine Global Investment Management LLC lowered its position in Target Corporation (NYSE:TGT - Free Report) by 8.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 401,830 shares of the retailer's stock after selling 38,045 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.09% of Target worth $41,935,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. DSG Capital Advisors LLC boosted its stake in shares of Target by 16.1% in the first quarter. DSG Capital Advisors LLC now owns 156,644 shares of the retailer's stock worth $16,347,000 after acquiring an additional 21,726 shares during the last quarter. Viking Fund Management LLC lifted its position in shares of Target by 20.0% during the 1st quarter. Viking Fund Management LLC now owns 60,000 shares of the retailer's stock worth $6,262,000 after purchasing an additional 10,000 shares during the last quarter. Correct Capital Wealth Management boosted its position in shares of Target by 44.7% in the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer's stock valued at $1,415,000 after purchasing an additional 4,189 shares during the period. Chapin Davis Inc. boosted its stake in Target by 64.7% during the 1st quarter. Chapin Davis Inc. now owns 8,507 shares of the retailer's stock worth $888,000 after purchasing an additional 3,342 shares during the period. Finally, CMH Wealth Management LLC lifted its position in Target by 31.5% during the 1st quarter. CMH Wealth Management LLC now owns 61,420 shares of the retailer's stock worth $6,410,000 after acquiring an additional 14,719 shares during the period. Institutional investors and hedge funds own 79.73% of the company's stock.

Target Trading Up 0.5%

NYSE TGT traded up $0.4940 during mid-day trading on Tuesday, hitting $105.4440. The company's stock had a trading volume of 7,874,460 shares, compared to its average volume of 6,896,648. Target Corporation has a 52-week low of $87.35 and a 52-week high of $167.40. The stock's fifty day simple moving average is $101.92 and its two-hundred day simple moving average is $104.39. The firm has a market capitalization of $47.91 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 2.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT - Get Free Report) last announced 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 firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.03 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Wednesday, August 13th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is currently 50.11%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Guggenheim cut their price target on shares of Target from $155.00 to $115.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Morgan Stanley decreased their price target on Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Loop Capital set a $95.00 target price on shares of Target in a research report on Thursday, July 17th. Barclays reaffirmed an "underweight" rating and issued a $91.00 target price on shares of Target in a report on Monday, July 21st. Finally, Sanford C. Bernstein cut shares of Target from a "market perform" rating to an "underperform" rating and lowered their price objective for the company from $97.00 to $82.00 in a research note on Monday, May 12th. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Target presently has a consensus rating of "Hold" and a consensus target price of $115.42.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the sale, the insider owned 246,453 shares in the company, valued at $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.

Target 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.