Clearbridge Investments LLC Sells 291,506 Shares of Target Co. (NYSE:TGT)

Clearbridge Investments LLC trimmed its position in shares of Target Co. (NYSE:TGT) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,880,545 shares of the retailer’s stock after selling 291,506 shares during the period. Clearbridge Investments LLC’s holdings in Target were worth $389,392,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TGT. Legacy Investment Solutions LLC purchased a new stake in Target in the third quarter worth $28,000. Hopwood Financial Services Inc. bought a new position in shares of Target in the 4th quarter worth approximately $29,000. MCF Advisors LLC lifted its stake in shares of Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after purchasing an additional 163 shares during the period. Raleigh Capital Management Inc. boosted its position in shares of Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock valued at $35,000 after purchasing an additional 135 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in Target in the third quarter worth $36,000. 79.73% of the stock is owned by institutional investors.

Target Stock Down 2.7 %

Shares of TGT 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 current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $47.21 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The business’s 50 day moving average is $122.96 and its 200 day moving average is $136.46.

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

Target Announces Dividend

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

Wall Street Analysts Forecast Growth

TGT has been the subject of several research reports. Bank of America decreased their price target on shares of Target from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. StockNews.com upgraded Target from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Guggenheim boosted their target price on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. UBS Group dropped their price target on shares of Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, DA Davidson decreased their target price on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Target currently has a consensus rating of “Hold” and an average target price of $143.40.

Target 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.