Allspring Global Investments Holdings LLC Sells 9,981 Shares of Target Co. (NYSE:TGT)

Allspring Global Investments Holdings LLC lessened its stake in shares of Target Co. (NYSE:TGTFree Report) by 7.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,953 shares of the retailer’s stock after selling 9,981 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Target were worth $20,725,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in Target by 1.3% in the fourth quarter. Larson Financial Group LLC now owns 5,339 shares of the retailer’s stock worth $760,000 after buying an additional 70 shares during the period. Godshalk Welsh Capital Management Inc. lifted its holdings in Target by 0.9% in the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock worth $1,158,000 after buying an additional 70 shares during the period. Welch & Forbes LLC lifted its holdings in shares of Target by 0.9% during the fourth quarter. Welch & Forbes LLC now owns 7,715 shares of the retailer’s stock valued at $1,099,000 after purchasing an additional 71 shares during the last quarter. Beacon Financial Advisory LLC lifted its holdings in shares of Target by 1.0% during the fourth quarter. Beacon Financial Advisory LLC now owns 7,059 shares of the retailer’s stock valued at $1,005,000 after purchasing an additional 72 shares during the last quarter. Finally, Pinnacle Bancorp Inc. lifted its holdings in shares of Target by 4.1% during the first quarter. Pinnacle Bancorp Inc. now owns 1,851 shares of the retailer’s stock valued at $328,000 after purchasing an additional 73 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of Target from $160.00 to $153.00 and set a “hold” rating for the company in a report on Thursday, May 23rd. Tigress Financial lifted their target price on shares of Target from $180.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. StockNews.com lowered shares of Target from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 23rd. Roth Mkm reiterated a “neutral” rating and set a $153.00 target price on shares of Target in a report on Thursday, May 23rd. Finally, BMO Capital Markets reduced their price target on shares of Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Target has a consensus rating of “Moderate Buy” and a consensus price target of $177.61.

Get Our Latest Analysis on TGT

Target Stock Up 0.6 %

TGT opened at $145.65 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86. The firm’s fifty day moving average is $150.93 and its 200 day moving average is $153.44. The stock has a market cap of $67.38 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19.

Target (NYSE:TGTGet Free Report) last released its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a net margin of 3.87% and a return on equity of 31.91%. The firm had revenue of $24.14 billion for the quarter, compared to analysts’ expectations of $24.52 billion. During the same quarter last year, the firm posted $2.05 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. This is a boost from Target’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.08%. Target’s payout ratio is 49.38%.

Target Profile

(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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Institutional Ownership by Quarter for Target (NYSE:TGT)

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