Target Co. (NYSE:TGT) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. cut its position in Target Co. (NYSE:TGT) by 7.5% during the fourth quarter, HoldingsChannel reports. The firm owned 31,009 shares of the retailer’s stock after selling 2,505 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Target were worth $4,192,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp increased its position in shares of Target by 8.3% during the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock worth $5,530,576,000 after purchasing an additional 2,732,801 shares in the last quarter. Geode Capital Management LLC raised its holdings in Target by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,414,025 shares of the retailer’s stock worth $1,461,456,000 after purchasing an additional 130,691 shares in the last quarter. Norges Bank acquired a new position in Target during the 4th quarter worth approximately $757,892,000. Bank of New York Mellon Corp raised its stake in shares of Target by 6.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,832,585 shares of the retailer’s stock worth $518,089,000 after buying an additional 234,409 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Target by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,144,828 shares of the retailer’s stock valued at $425,118,000 after buying an additional 91,357 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TGT shares. Roth Mkm reaffirmed a “neutral” rating and issued a $122.00 target price (down from $131.00) on shares of Target in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Piper Sandler lowered their price objective on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. StockNews.com upgraded shares of Target from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Bank of America cut their price target on shares of Target from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $143.40.

Target Stock Down 2.7 %

Shares of Target stock opened at $103.63 on Friday. The firm has a market cap of $47.21 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.94 and a beta of 1.18. The stock has a 50-day simple moving average of $122.96 and a 200-day simple moving average of $136.46. Target Co. has a 52-week low of $101.76 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

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. Target had a return on equity of 31.11% and a net margin of 4.06%. The company had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. On average, equities research analysts expect that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

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

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.