Franklin Resources Inc. Sells 2,134,319 Shares of Target Co. (NYSE:TGT)

Franklin Resources Inc. lessened its position in shares of Target Co. (NYSE:TGT) by 20.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,085,847 shares of the retailer’s stock after selling 2,134,319 shares during the period. Franklin Resources Inc.’s holdings in Target were worth $1,093,045,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Rodgers Brothers Inc. lifted its stake in shares of Target by 9.0% in the 4th quarter. Rodgers Brothers Inc. now owns 57,653 shares of the retailer’s stock valued at $7,794,000 after acquiring an additional 4,750 shares during the last quarter. Cannell & Spears LLC acquired a new position in Target during the 4th quarter worth about $257,000. Bedell Frazier Investment Counselling LLC acquired a new stake in shares of Target in the fourth quarter valued at about $5,943,000. Edmond DE Rothschild Holding S.A. bought a new stake in Target in the fourth quarter valued at approximately $1,052,000. Finally, Meeder Asset Management Inc. raised its holdings in Target by 169.4% during the 4th quarter. Meeder Asset Management Inc. now owns 80,472 shares of the retailer’s stock worth $10,878,000 after purchasing an additional 50,600 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Target Stock Down 2.7 %

Shares of NYSE TGT opened at $103.63 on Monday. The business has a 50-day moving average of $122.96 and a 200-day moving average of $136.39. 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 issued its earnings results on Tuesday, March 4th. The retailer reported $2.41 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 for the quarter, compared to analysts’ expectations 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 business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors 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 payout ratio is 50.56%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group decreased their price target on Target from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Bank of America cut their price target on Target from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Stifel Nicolaus cut their target price on Target from $130.00 to $120.00 and set a “hold” rating on the stock in a report on Thursday, March 20th. KGI Securities set a $132.00 price objective on shares of Target in a report on Wednesday, March 5th. Finally, UBS Group decreased their target price on shares of Target from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.