Brandywine Global Investment Management LLC Grows Position in Target Co. (TGT)
Brandywine Global Investment Management LLC lifted its holdings in Target Co. (NYSE:TGT) by 0.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 712,282 shares of the retailer’s stock after acquiring an additional 1,412 shares during the period. Brandywine Global Investment Management LLC’s holdings in Target were worth $47,075,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Target by 3.2% in the fourth quarter. BlackRock Inc. now owns 43,222,017 shares of the retailer’s stock valued at $2,856,544,000 after acquiring an additional 1,334,425 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Target by 0.4% in the third quarter. Vanguard Group Inc now owns 38,331,487 shares of the retailer’s stock valued at $3,381,221,000 after acquiring an additional 151,096 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Target by 5,697.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,484,117 shares of the retailer’s stock valued at $280,000 after acquiring an additional 18,165,298 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Target by 114.5% in the third quarter. AQR Capital Management LLC now owns 10,474,816 shares of the retailer’s stock valued at $923,984,000 after acquiring an additional 5,590,395 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Target by 1.3% in the fourth quarter. Northern Trust Corp now owns 7,095,898 shares of the retailer’s stock valued at $468,967,000 after acquiring an additional 89,876 shares in the last quarter. Institutional investors and hedge funds own 82.08% of the company’s stock.
In other news, insider Cathy R. Smith sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $74.00, for a total value of $2,220,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.
Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 5th. The retailer reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.01. Target had a net margin of 3.90% and a return on equity of 25.74%. The company had revenue of $22.98 billion for the quarter, compared to the consensus estimate of $23.05 billion. During the same period last year, the company posted $1.37 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, analysts expect that Target Co. will post 5.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a $0.64 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.34%. Target’s payout ratio is currently 47.50%.
Several equities analysts recently commented on TGT shares. ValuEngine downgraded shares of Target from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. Deutsche Bank increased their price objective on shares of Target from $80.00 to $84.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Credit Suisse Group reduced their price objective on shares of Target from $94.00 to $79.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 21st. Tigress Financial reiterated a “buy” rating on shares of Target in a research note on Thursday, January 17th. Finally, Citigroup reduced their price objective on shares of Target from $84.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, December 3rd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $87.25.
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Target Corporation operates as a general merchandise retailer in the United States. The company offers beauty and household essentials, including beauty products, personal and baby care products, cleaning products, paper products, and pet supplies; food and beverage products, such as dry grocery, dairy, frozen food, beverage, candy, snacks, deli, bakery, meat, and produce products; and apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes.
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