Nomura Asset Management Co. Ltd. Raises Stock Position in Target Co. (NYSE:TGT)

Nomura Asset Management Co. Ltd. grew its holdings in shares of Target Co. (NYSE:TGT) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 444,954 shares of the retailer’s stock after buying an additional 28,185 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.10% of Target worth $60,149,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Target during the 4th quarter valued at $757,892,000. State Street Corp increased its position in Target by 8.3% during the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after acquiring an additional 2,732,801 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Target in the fourth quarter valued at $297,122,000. Two Sigma Advisers LP lifted its holdings in shares of Target by 173.2% in the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after acquiring an additional 1,502,200 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its stake in shares of Target by 773.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock worth $129,795,000 after purchasing an additional 737,384 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Stock Down 2.7 %

TGT stock opened at $103.63 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 52 week low of $101.76 and a 52 week high of $181.86. The stock 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 firm has a 50 day moving average of $122.96 and a 200 day moving average of $136.54.

Target (NYSE:TGT) last released its earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Sell-side 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. Investors of record on Wednesday, May 14th will be issued a $1.12 dividend. 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 presently 50.56%.

Wall Street Analysts Forecast Growth

TGT has been the subject of several analyst reports. Oppenheimer decreased their price objective on shares of Target from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Roth Capital set a $122.00 price target on Target in a research note on Wednesday, March 5th. Roth Mkm reaffirmed a “neutral” rating and issued a $122.00 price objective (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. Citigroup decreased their target price on Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Finally, Truist Financial cut their price target on shares of Target from $134.00 to $124.00 and set a “hold” 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 given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.