Forsta AP Fonden Sells 13,500 Shares of Target Co. (NYSE:TGT)

Forsta AP Fonden decreased its position in Target Co. (NYSE:TGT) by 10.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,100 shares of the retailer’s stock after selling 13,500 shares during the quarter. Forsta AP Fonden’s holdings in Target were worth $14,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Cynosure Group LLC increased its stake in Target by 4.3% in the 3rd quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after purchasing an additional 65 shares during the period. Financial Advocates Investment Management increased its stake in Target by 1.2% in the 3rd quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after purchasing an additional 67 shares during the period. Hancock Whitney Corp increased its stake in Target by 3.3% in the 3rd quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares during the period. Trust Co. of Vermont increased its stake in Target by 0.4% in the 3rd quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock worth $2,444,000 after purchasing an additional 69 shares during the period. Finally, Eagle Bluffs Wealth Management LLC increased its stake in Target by 1.1% in the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock worth $1,063,000 after purchasing an additional 73 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Trading Down 0.6 %

Target stock opened at $140.28 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. Target Co. has a one year low of $120.21 and a one year high of $181.86. The stock has a market capitalization of $64.28 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 2.21 and a beta of 1.16. The business’s fifty day moving average is $133.80 and its 200 day moving average is $144.64.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the prior year, the company posted $2.10 EPS. The firm’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts predict that Target Co. will post 8.68 EPS for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s dividend payout ratio is 47.51%.

Analyst Ratings Changes

TGT has been the topic of a number of analyst reports. Guggenheim lifted their price target on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft cut Target from a “buy” rating to a “hold” rating and reduced their target price for the company from $184.00 to $108.00 in a research note on Wednesday, November 20th. Wells Fargo & Company reduced their target price on Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Oppenheimer reissued an “outperform” rating and set a $165.00 target price on shares of Target in a research note on Monday, November 25th. Finally, TD Cowen reduced their target price on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $157.70.

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.