BI Asset Management Fondsmaeglerselskab A S Buys New Shares in Target Co. (NYSE:TGT)

BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Target Co. (NYSE:TGT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 48,342 shares of the retailer's stock, valued at approximately $6,535,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TGT. Bernard Wealth Management Corp. acquired a new position in Target in the fourth quarter worth approximately $30,000. Hopwood Financial Services Inc. purchased a new stake in shares of Target in the fourth quarter worth approximately $29,000. MCF Advisors LLC boosted its position in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock valued at $35,000 after purchasing an additional 163 shares during the last quarter. Raleigh Capital Management Inc. raised its position in Target by 110.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock valued at $35,000 after acquiring an additional 135 shares in the last quarter. Finally, Legacy Investment Solutions LLC raised its holdings in shares of Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 79.73% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on TGT shares. Wells Fargo & Company dropped their price objective on Target from $150.00 to $135.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Baird R W lowered Target from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Citigroup reduced their price objective on Target from $120.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Evercore ISI dropped their price objective on Target from $130.00 to $120.00 and set an "in-line" rating for the company in a report on Tuesday, April 1st. Finally, Stifel Nicolaus reduced their price objective on shares of Target from $130.00 to $120.00 and set a "hold" rating on the stock in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $132.37.

Target Stock Up 2.8 %

NYSE:TGT traded up $2.58 during midday trading on Thursday, hitting $94.73. 3,293,610 shares of the company were exchanged, compared to its average volume of 5,662,238. The company has a fifty day simple moving average of $106.90 and a 200 day simple moving average of $128.68. Target Co. has a fifty-two week low of $87.35 and a fifty-two week high of $167.40. The company has a market capitalization of $43.16 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

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

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Wednesday, May 14th. Target's dividend payout ratio is presently 50.56%.

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.