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

Clearbridge Investments LLC lowered its position in Target Co. (NYSE:TGT) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,880,545 shares of the retailer’s stock after selling 291,506 shares during the period. Clearbridge Investments LLC owned about 0.63% of Target worth $389,392,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new stake in Target in the 3rd quarter valued at $28,000. Hopwood Financial Services Inc. bought a new position in Target in the fourth quarter valued at approximately $29,000. MCF Advisors LLC grew its stake in shares of Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock valued at $35,000 after buying an additional 163 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after buying an additional 135 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Target in the 3rd quarter valued at about $36,000. 79.73% of the stock is currently owned by institutional investors.

Target Stock Down 2.7 %

Shares of NYSE TGT opened at $103.63 on Friday. The business has a 50-day moving average of $122.96 and a 200-day moving average of $136.46. The firm has a market capitalization 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 company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 12 month low of $101.76 and a 12 month high of $181.86.

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

Target Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TGT shares. Guggenheim lifted their price objective on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. DA Davidson dropped their price objective on Target from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Citigroup reduced their price target on shares of Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Stifel Nicolaus cut their target price on Target from $130.00 to $120.00 and set a “hold” rating for the company in a research note on Thursday, March 20th. Finally, The Goldman Sachs Group dropped their price objective on shares of Target from $166.00 to $142.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.