Target Co. (NYSE:TGT) Shares Bought by DnB Asset Management AS

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

A number of other hedge funds have also modified their holdings of TGT. Norges Bank acquired a new position in shares of Target in the 4th quarter worth approximately $757,892,000. State Street Corp raised its position in Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after purchasing an additional 2,732,801 shares during the period. Raymond James Financial Inc. acquired a new position in Target during the fourth quarter worth $297,122,000. Two Sigma Advisers LP boosted its position in shares of Target by 173.2% during the third quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after buying an additional 1,502,200 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its stake in shares of Target by 773.1% in the third quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock valued at $129,795,000 after buying an additional 737,384 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Bank of America decreased their target price on Target from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Truist Financial dropped their price objective on shares of Target from $134.00 to $124.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Gordon Haskett lowered shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Wells Fargo & Company lowered their target price on shares of Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Finally, Roth Mkm restated a “neutral” rating and issued a $122.00 price target (down from $131.00) on shares of Target in a research note on Wednesday, March 5th. 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 company. According to data from MarketBeat.com, Target has a consensus rating of “Hold” and an average target price of $143.40.

Target Trading Down 2.7 %

Shares of Target 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. The firm has a market cap of $47.21 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. Target Co. has a 52-week low of $101.76 and a 52-week high of $181.86. The company’s 50-day simple moving average is $122.96 and its 200-day simple moving average is $136.46.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $30.92 billion during the quarter, compared to analysts’ expectations of $30.83 billion. As a group, equities research analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

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