Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 1,110 Shares of Target Co. (NYSE:TGT)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in shares of Target Co. (NYSE:TGT) by 0.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 132,397 shares of the retailer’s stock after selling 1,110 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Target were worth $17,897,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in Target by 8.3% in 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. FMR LLC raised its holdings in Target by 11.7% in the third quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after purchasing an additional 1,046,044 shares in the last quarter. Geode Capital Management LLC raised its holdings in Target by 1.4% in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Target by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,321,055 shares of the retailer’s stock worth $517,620,000 after purchasing an additional 62,916 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Target by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,053,471 shares of the retailer’s stock worth $475,914,000 after purchasing an additional 56,695 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wells Fargo & Company decreased their price objective on Target from $180.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Daiwa America cut Target from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Daiwa Capital Markets cut Target from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $170.00 to $130.00 in a research note on Tuesday, November 26th. Truist Financial increased their target price on Target from $129.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Finally, Gordon Haskett cut Target from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $157.70.

Target Stock Down 2.9 %

NYSE TGT opened at $124.40 on Friday. The stock’s 50-day moving average price is $134.41 and its 200-day moving average price is $142.74. The company has a market capitalization of $57.00 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 1.94 and a beta of 1.15. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86. 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 (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The business had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the business posted $2.10 EPS. On average, equities research analysts predict that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.60%. The ex-dividend date is Wednesday, February 12th. Target’s dividend payout ratio (DPR) is presently 47.51%.

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.