KLP Kapitalforvaltning AS Buys New Stake in Target Co. (NYSE:TGT)

KLP Kapitalforvaltning AS bought a new stake in Target Co. (NYSE:TGT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 157,909 shares of the retailer’s stock, valued at approximately $21,346,000.

Other large investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in Target by 1.8% in the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after buying an additional 490 shares during the last quarter. Nicholas Company Inc. increased its holdings in Target by 20.5% in the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after buying an additional 9,485 shares during the last quarter. River Road Asset Management LLC increased its holdings in Target by 144.9% in the fourth quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock valued at $31,699,000 after buying an additional 138,751 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Target by 25.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after buying an additional 3,590 shares during the last quarter. Finally, Northeast Financial Group Inc. purchased a new position in shares of Target during the fourth quarter worth about $1,566,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

TGT stock opened at $104.29 on Friday. The firm has a 50 day moving average of $125.89 and a 200-day moving average of $138.03. Target Co. has a 12-month low of $101.76 and a 12-month high of $181.86. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The company has a market cap of $47.51 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.94 and a beta of 1.18.

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

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a dividend yield of 4.30%. Target’s dividend payout ratio is currently 50.56%.

Analyst Ratings Changes

TGT has been the topic of several research reports. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Target in a report on Wednesday, March 5th. Oppenheimer dropped their price objective on Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. DA Davidson dropped their price objective on Target from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Citigroup dropped their price objective on Target from $133.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their price objective on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Target presently has an average rating of “Hold” and a consensus price target of $145.55.

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.