Target Co. (NYSE:TGT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of Target Co. (NYSE:TGT) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,495 shares of the retailer’s stock after selling 458 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Target were worth $17,246,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Triad Wealth Partners LLC purchased a new stake in Target during the 2nd quarter valued at about $25,000. Godsey & Gibb Inc. grew its position in shares of Target by 148.6% in the first quarter. Godsey & Gibb Inc. now owns 174 shares of the retailer’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. Washington Trust Advisors Inc. grew its position in shares of Target by 56.1% in the first quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Retirement Group LLC increased its holdings in shares of Target by 85.0% in the first quarter. Retirement Group LLC now owns 198 shares of the retailer’s stock valued at $35,000 after purchasing an additional 91 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Target during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 1.1 %

TGT opened at $156.86 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.86 and a quick ratio of 0.27. The stock has a market capitalization of $72.57 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.38 and a beta of 1.19. The business has a fifty day moving average price of $146.54 and a 200 day moving average price of $154.85. Target Co. has a 12 month low of $102.93 and a 12 month high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 31.91% and a net margin of 3.87%. The business had revenue of $25.02 billion during the quarter, compared to the consensus estimate of $25.19 billion. During the same period in the previous year, the company posted $1.80 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts expect that Target Co. will post 9.31 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Wednesday, August 21st will be given a dividend of $1.12 per share. This is a boost from Target’s previous quarterly dividend of $1.10. This represents a $4.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Wednesday, August 21st. Target’s payout ratio is 50.28%.

Insider Buying and Selling

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TGT shares. Wells Fargo & Company raised their target price on Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. UBS Group raised their price objective on shares of Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Daiwa America upgraded shares of Target to a “strong-buy” rating in a report on Monday. Telsey Advisory Group increased their price target on shares of Target from $190.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price target on shares of Target in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.18.

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.