DnB Asset Management AS Acquires 2,975 Shares of Target Co. (NYSE:TGT)

DnB Asset Management AS grew its holdings in Target Co. (NYSE:TGT) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,875 shares of the retailer’s stock after purchasing an additional 2,975 shares during the quarter. DnB Asset Management AS’s holdings in Target were worth $10,933,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new position in shares of Target during the third quarter worth $28,000. Hopwood Financial Services Inc. purchased a new stake in Target in the fourth quarter valued at about $29,000. MCF Advisors LLC raised its stake in 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 during the last quarter. Raleigh Capital Management Inc. boosted its holdings in Target by 110.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after acquiring an additional 135 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Target during the third quarter worth about $36,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

NYSE:TGT opened at $103.63 on Friday. The company has a market cap of $47.21 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.94 and a beta of 1.18. Target Co. has a twelve month low of $101.76 and a twelve month high of $181.86. The company’s 50-day moving average price is $122.96 and its 200-day moving average price is $136.46. 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 (NYSE:TGT) last released its 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. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. On average, sell-side analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. DA Davidson lowered their target price on shares of Target from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Stifel Nicolaus lowered their price target on Target from $130.00 to $120.00 and set a “hold” rating for the company in a research report on Thursday, March 20th. The Goldman Sachs Group cut their price objective on Target from $166.00 to $142.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. StockNews.com raised Target from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Guggenheim increased their price target on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $143.40.

About Target

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.