Allspring Global Investments Holdings LLC Reduces Position in Target Co. (NYSE:TGT)

Allspring Global Investments Holdings LLC lowered its position in Target Co. (NYSE:TGT) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in Target by 1.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after purchasing an additional 490 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in shares of Target by 25.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after buying an additional 3,590 shares during the period. Northeast Financial Group Inc. acquired a new stake in shares of Target during the fourth quarter worth about $1,566,000. D.A. Davidson & CO. increased its position in Target by 8.6% in the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after acquiring an additional 9,510 shares during the period. Finally, Prana Capital Management LP raised its stake in Target by 47.5% during the 3rd quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock valued at $33,834,000 after acquiring an additional 69,885 shares during the last quarter. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

Shares of NYSE TGT opened at $127.86 on Friday. The company has a 50-day simple moving average of $135.11 and a 200-day simple moving average of $143.21. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The company has a market cap of $58.58 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 2.04 and a beta of 1.15. Target Co. has a 12 month low of $120.21 and a 12 month high of $181.86.

Target (NYSE:TGT) last released its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $2.10 earnings per share. On average, equities analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 annualized dividend and a dividend yield of 3.50%. Target’s dividend payout ratio is presently 47.51%.

Analyst Ratings Changes

Several brokerages have weighed in on TGT. Daiwa Capital Markets downgraded Target from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. Piper Sandler dropped their price objective on shares of Target from $156.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Telsey Advisory Group restated an “outperform” rating and set a $150.00 price objective on shares of Target in a research report on Friday, January 17th. Citigroup lifted their target price on shares of Target from $130.00 to $133.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Finally, Gordon Haskett cut shares of Target from a “buy” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $157.70.

About Target

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.