KLP Kapitalforvaltning AS Makes New Investment in Target Co. (NYSE:TGT)

KLP Kapitalforvaltning AS bought a new position in Target Co. (NYSE:TGT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 157,909 shares of the retailer’s stock, valued at approximately $21,346,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in Target in the 3rd quarter worth approximately $28,000. Hopwood Financial Services Inc. purchased a new stake in Target in the 4th quarter worth approximately $29,000. MCF Advisors LLC grew its stake in Target by 175.3% in the 4th quarter. MCF Advisors LLC now owns 256 shares of the retailer’s stock worth $35,000 after acquiring an additional 163 shares during the period. Raleigh Capital Management Inc. grew its stake in Target by 110.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer’s stock worth $35,000 after acquiring an additional 135 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in Target in the 3rd quarter worth approximately $36,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of Target stock opened at $104.29 on Friday. The firm has a market cap of $47.51 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The firm’s 50-day simple moving average is $125.89 and its 200-day simple moving average is $138.03. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a 1 year low of $101.76 and a 1 year high of $181.86.

Target (NYSE:TGT) last issued its 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 business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Equities analysts forecast that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

The firm 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. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s dividend payout ratio is presently 50.56%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TGT shares. Roth Capital set a $122.00 price objective on shares of Target in a research note on Wednesday, March 5th. Citigroup lowered their price objective on shares of Target from $133.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Piper Sandler reduced their target price on shares of Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. DA Davidson reduced their target price on shares of Target from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Target presently has an average rating of “Hold” and an average target price of $145.55.

Target Company 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.