5,606,540 Shares in Target Co. (NYSE:TGT) Bought by Norges Bank

Norges Bank bought a new position in Target Co. (NYSE:TGT) in the fourth quarter, HoldingsChannel.com reports. The firm bought 5,606,540 shares of the retailer’s stock, valued at approximately $757,892,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LM Advisors LLC boosted its position in shares of Target by 60.0% during the fourth quarter. LM Advisors LLC now owns 4,800 shares of the retailer’s stock worth $649,000 after buying an additional 1,800 shares during the period. AssuredPartners Investment Advisors LLC acquired a new position in Target during the 4th quarter worth approximately $317,000. NEOS Investment Management LLC grew its stake in shares of Target by 30.8% during the 4th quarter. NEOS Investment Management LLC now owns 26,410 shares of the retailer’s stock worth $3,570,000 after acquiring an additional 6,219 shares in the last quarter. Godshalk Welsh Capital Management Inc. raised its holdings in shares of Target by 1.3% in the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,280 shares of the retailer’s stock valued at $1,119,000 after purchasing an additional 110 shares during the last quarter. Finally, Moment Partners LLC bought a new stake in shares of Target in the fourth quarter worth $304,000. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Stock Performance

NYSE TGT opened at $106.49 on Friday. Target Co. has a 12-month low of $101.76 and a 12-month high of $181.86. The firm has a 50-day moving average price of $123.56 and a two-hundred day moving average price of $136.87. The company has a market capitalization of $48.51 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.94 and a beta of 1.18. 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 posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. 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. Investors 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 yield of 4.21%. 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

Several equities research analysts have issued reports on TGT shares. Evercore ISI lowered their price target on shares of Target from $135.00 to $130.00 and set an “in-line” rating on the stock in a research note on Wednesday, March 5th. Citigroup lowered their target price on Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Roth Mkm reissued a “neutral” rating and set a $122.00 price target (down from $131.00) on shares of Target in a research report on Wednesday, March 5th. Gordon Haskett lowered Target from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, UBS Group cut their price objective on Target from $170.00 to $155.00 and set a “buy” rating for the company in a 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 company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.