DNB Asset Management AS Increases Stock Holdings in Target Co. (NYSE:TGT)

DNB Asset Management AS raised its stake in Target Co. (NYSE:TGT) by 23.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,006 shares of the retailer’s stock after purchasing an additional 22,887 shares during the period. DNB Asset Management AS’s holdings in Target were worth $27,911,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Mascoma Wealth Management LLC purchased a new position in Target in the third quarter valued at approximately $28,000. Emerald Advisers LLC purchased a new position in Target in the second quarter valued at approximately $31,000. Holloway Wealth Management LLC increased its stake in Target by 166.0% in the second quarter. Holloway Wealth Management LLC now owns 133 shares of the retailer’s stock valued at $32,000 after purchasing an additional 83 shares during the last quarter. Activest Wealth Management increased its stake in Target by 107.5% in the third quarter. Activest Wealth Management now owns 139 shares of the retailer’s stock valued at $32,000 after purchasing an additional 72 shares during the last quarter. Finally, Avion Wealth acquired a new stake in shares of Target in the second quarter valued at approximately $36,000. Institutional investors own 78.36% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Target from $250.00 to $260.00 and gave the company an “equal weight” rating in a report on Wednesday, August 25th. Credit Suisse Group assumed coverage on Target in a report on Friday, November 19th. They issued an “outperform” rating and a $286.00 price objective for the company. The Goldman Sachs Group increased their price objective on Target from $281.00 to $308.00 and gave the company a “buy” rating in a report on Tuesday, October 19th. Citigroup increased their price objective on Target from $258.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, August 19th. Finally, DA Davidson reissued a “buy” rating on shares of Target in a report on Thursday, August 19th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $259.41.

NYSE:TGT opened at $246.57 on Friday. The company has a market capitalization of $120.34 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.03. The company has a quick ratio of 0.46, a current ratio of 1.04 and a debt-to-equity ratio of 0.78. Target Co. has a 52-week low of $166.82 and a 52-week high of $268.98. The stock has a fifty day simple moving average of $247.10 and a 200-day simple moving average of $244.39.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 17th. The retailer reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.20. The business had revenue of $25.29 billion during the quarter, compared to the consensus estimate of $24.60 billion. Target had a return on equity of 44.68% and a net margin of 6.29%. The business’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.79 EPS. As a group, equities analysts anticipate that Target Co. will post 12.97 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Stockholders of record on Wednesday, November 17th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Tuesday, November 16th. Target’s dividend payout ratio (DPR) is presently 28.66%.

Target declared that its board has approved a stock repurchase program on Wednesday, August 18th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the retailer to purchase up to 12.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

In other Target news, insider Brian C. Cornell sold 25,000 shares of Target stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $245.98, for a total value of $6,149,500.00. Following the completion of the sale, the insider now owns 195,271 shares in the company, valued at approximately $48,032,760.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christina Hennington sold 4,173 shares of Target stock in a transaction dated Friday, November 19th. The shares were sold at an average price of $250.95, for a total value of $1,047,214.35. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Target Company Profile

Target Corp. engages in the operation and ownership of general merchandise stores. It offers food assortments including perishables, dry grocery, dairy, and frozen items. The company was founded by George Draper Dayton in 1902 and is headquartered in Minneapolis, MN.

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Institutional Ownership by Quarter for Target (NYSE:TGT)

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