Neuberger Berman Group LLC Sells 2,434 Shares of Target Co. (NYSE:TGT)

Neuberger Berman Group LLC lessened its stake in Target Co. (NYSE:TGT) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,676 shares of the retailer’s stock after selling 2,434 shares during the quarter. Neuberger Berman Group LLC’s holdings in Target were worth $13,069,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TGT. Kathmere Capital Management LLC raised its holdings in Target by 3.0% in the fourth quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock worth $343,000 after purchasing an additional 73 shares during the period. Horrell Capital Management Inc. increased its position in shares of Target by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the retailer’s stock valued at $3,603,000 after buying an additional 76 shares in the last quarter. First PREMIER Bank raised its stake in Target by 21.9% during the 4th quarter. First PREMIER Bank now owns 445 shares of the retailer’s stock worth $61,000 after buying an additional 80 shares during the period. Winch Advisory Services LLC lifted its holdings in Target by 34.5% during the fourth quarter. Winch Advisory Services LLC now owns 320 shares of the retailer’s stock worth $43,000 after acquiring an additional 82 shares in the last quarter. Finally, CENTRAL TRUST Co grew its stake in Target by 0.4% in the fourth quarter. CENTRAL TRUST Co now owns 18,593 shares of the retailer’s stock valued at $2,513,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TGT. Wells Fargo & Company cut their price objective on Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Citigroup cut their price target on shares of Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. DA Davidson lowered their price objective on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Baird R W lowered shares of Target from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Truist Financial reduced their target price on shares of Target from $124.00 to $82.00 and set a “hold” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, twenty have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $136.03.

Target Stock Performance

Shares of TGT opened at $92.57 on Friday. The company has a market cap of $42.17 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The firm has a 50-day moving average of $113.87 and a 200-day moving average of $132.29. Target Co. has a one year low of $87.35 and a one year high of $173.05. 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 announced its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $30.83 billion. As a group, equities analysts forecast that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

The firm 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 annualized dividend and a yield of 4.84%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio 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.