Oslo Pensjonsforsikring AS Buys New Stake in Target Corporation $TGT

Oslo Pensjonsforsikring AS bought a new position in Target Corporation (NYSE:TGT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,506 shares of the retailer’s stock, valued at approximately $546,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Target by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock valued at $5,690,262,000 after purchasing an additional 286,499 shares during the last quarter. State Street Corp increased its stake in shares of Target by 0.3% in the fourth quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock worth $3,692,265,000 after purchasing an additional 124,468 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Target by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock worth $1,668,194,000 after purchasing an additional 561,898 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Target by 2.4% during the 4th quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock worth $605,507,000 after purchasing an additional 142,937 shares during the last quarter. Finally, Norges Bank bought a new stake in Target during the 4th quarter valued at approximately $587,903,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the transaction, the insider directly owned 45,930 shares of the company’s stock, valued at $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on TGT shares. Wolfe Research raised Target from a “peer perform” rating to an “outperform” rating and set a $162.00 target price on the stock in a report on Tuesday, June 23rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Target in a report on Monday, June 15th. DA Davidson increased their price objective on Target from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Evercore set a $130.00 price objective on shares of Target in a research note on Monday, May 18th. Finally, Barclays restated an “underweight” rating on shares of Target in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $132.15.

Target Stock Down 0.8%

TGT stock opened at $138.50 on Wednesday. Target Corporation has a twelve month low of $83.44 and a twelve month high of $144.40. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The company has a market cap of $62.91 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98. The business’s 50-day simple moving average is $130.10 and its 200 day simple moving average is $121.17.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.47 by $0.24. Target had a return on equity of 22.92% and a net margin of 3.24%.The firm had revenue of $25.44 billion during the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter in the prior year, the firm posted $1.30 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, research analysts anticipate that Target Corporation will post 8.35 earnings per share for the current year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be paid a $1.16 dividend. The ex-dividend date is Wednesday, August 12th. This is a positive change from Target’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.4%. Target’s dividend payout ratio is currently 61.29%.

Target Company Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.