Brandywine Global Investment Management LLC Decreases Holdings in Target Corporation (NYSE:TGT)

Brandywine Global Investment Management LLC cut its holdings in shares of Target Corporation (NYSE:TGT) by 8.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 401,830 shares of the retailer’s stock after selling 38,045 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Target were worth $41,935,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TGT. Bernard Wealth Management Corp. purchased a new stake in Target in the 4th quarter worth about $29,000. Heck Capital Advisors LLC purchased a new stake in Target in the 4th quarter worth about $40,000. Atwood & Palmer Inc. increased its holdings in Target by 951.4% in the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer’s stock worth $41,000 after acquiring an additional 352 shares during the last quarter. Abound Financial LLC purchased a new stake in Target in the 1st quarter worth about $43,000. Finally, Bellwether Advisors LLC purchased a new stake in Target in the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

TGT has been the subject of several recent research reports. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 price objective on shares of Target in a report on Thursday. Wall Street Zen lowered Target from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Royal Bank Of Canada reduced their target price on Target from $112.00 to $103.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. BMO Capital Markets reduced their target price on Target from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, May 22nd. Finally, Citigroup reduced their target price on Target from $97.00 to $94.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, twenty-three have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $115.81.

Target Stock Down 1.0%

Shares of NYSE TGT opened at $104.29 on Friday. The company has a market capitalization of $47.38 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 3.02 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. The business has a 50-day moving average of $101.66 and a two-hundred day moving average of $105.38. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40.

Target (NYSE:TGT) last announced its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a return on equity of 25.59% and a net margin of 3.95%. The business had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. During the same period last year, the firm earned $2.03 earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts forecast that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, August 13th. Target’s payout ratio is 50.11%.

Insider Transactions at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 246,453 shares in the company, valued at $23,703,849.54. The trade was a 15.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

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.