Avanza Fonder AB Makes New $5.96 Million Investment in Target Co. (NYSE:TGT)

Avanza Fonder AB acquired a new stake in shares of Target Co. (NYSE:TGT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 44,098 shares of the retailer’s stock, valued at approximately $5,961,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Occidental Asset Management LLC boosted its position in Target by 10.7% during the 4th quarter. Occidental Asset Management LLC now owns 20,431 shares of the retailer’s stock valued at $2,762,000 after buying an additional 1,972 shares during the period. Eagle Rock Investment Company LLC grew its position in shares of Target by 70.6% in the 4th quarter. Eagle Rock Investment Company LLC now owns 27,604 shares of the retailer’s stock worth $3,732,000 after buying an additional 11,425 shares during the period. Ritholtz Wealth Management increased its stake in shares of Target by 14.0% during the fourth quarter. Ritholtz Wealth Management now owns 4,605 shares of the retailer’s stock valued at $622,000 after purchasing an additional 565 shares in the last quarter. Mirador Capital Partners LP bought a new position in Target during the 4th quarter valued at approximately $3,397,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of Target by 11.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 5,577 shares of the retailer’s stock worth $754,000 after purchasing an additional 590 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

Target Stock Down 1.0 %

Shares of NYSE TGT opened at $131.98 on Friday. Target Co. has a 52-week low of $120.21 and a 52-week high of $181.86. The business’s 50 day moving average is $136.81 and its two-hundred day moving average is $145.31. The firm has a market cap of $60.47 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 2.32 and a beta of 1.16. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last announced its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $2.10 earnings per share. Research analysts predict that Target Co. will post 8.6 EPS for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, February 12th. Target’s payout ratio is currently 47.51%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TGT shares. Oppenheimer restated an “outperform” rating and issued a $165.00 target price on shares of Target in a report on Monday, November 25th. Telsey Advisory Group reissued an “outperform” rating and issued a $150.00 target price on shares of Target in a report on Friday. Deutsche Bank Aktiengesellschaft cut Target from a “buy” rating to a “hold” rating and decreased their price target for the company from $184.00 to $108.00 in a report on Wednesday, November 20th. Bank of America lowered their target price on shares of Target from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Finally, Sanford C. Bernstein assumed coverage on Target in a report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Target has an average rating of “Hold” and a consensus target price of $159.07.

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.