Brandywine Global Investment Management LLC Lowers Stock Holdings in Target Co. (NYSE:TGT)

Brandywine Global Investment Management LLC cut its holdings in shares of Target Co. (NYSE:TGT) by 27.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 439,875 shares of the retailer’s stock after selling 164,422 shares during the period. Brandywine Global Investment Management LLC’s holdings in Target were worth $59,462,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nicholas Company Inc. boosted its position in Target by 20.5% in the 4th quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after buying an additional 9,485 shares during the period. River Road Asset Management LLC boosted its holdings in Target by 144.9% in the fourth quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock valued at $31,699,000 after purchasing an additional 138,751 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in Target during the 4th quarter worth $6,459,000. Wilmington Savings Fund Society FSB increased its holdings in Target by 25.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after purchasing an additional 3,590 shares during the period. Finally, Northeast Financial Group Inc. acquired a new stake in Target in the 4th quarter valued at about $1,566,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

TGT stock opened at $103.63 on Friday. Target Co. has a 12-month low of $101.76 and a 12-month high of $181.86. The company has a market cap of $47.21 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.94 and a beta of 1.18. The firm has a 50 day moving average of $122.96 and a 200-day moving average of $136.46. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.17. The company had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. As a group, equities analysts expect that Target Co. will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a $1.12 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.32%. Target’s dividend payout ratio is presently 50.56%.

Wall Street Analyst Weigh In

TGT has been the topic of several analyst reports. StockNews.com raised shares of Target from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. KGI Securities set a $132.00 price objective on shares of Target in a research report on Wednesday, March 5th. Piper Sandler dropped their target price on Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Guggenheim upped their price objective on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Roth Mkm reissued a “neutral” rating and set a $122.00 target price (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Target presently has an average rating of “Hold” and a consensus target price of $143.40.

Target Company 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.