Target Co. (NYSE:TGT) Shares Acquired by Norden Group LLC

Norden Group LLC increased its position in shares of Target Co. (NYSE:TGT) by 1,433.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 29,159 shares of the retailer’s stock after purchasing an additional 27,257 shares during the period. Norden Group LLC’s holdings in Target were worth $5,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Lake Street Private Wealth LLC lifted its position in shares of Target by 4.4% in the 1st quarter. Lake Street Private Wealth LLC now owns 9,392 shares of the retailer’s stock worth $1,664,000 after buying an additional 399 shares during the last quarter. JTC Employer Solutions Trustee Ltd lifted its holdings in Target by 12.3% in the first quarter. JTC Employer Solutions Trustee Ltd now owns 3,550 shares of the retailer’s stock worth $620,000 after acquiring an additional 389 shares during the last quarter. Albion Financial Group UT boosted its stake in Target by 2.1% in the first quarter. Albion Financial Group UT now owns 42,954 shares of the retailer’s stock valued at $7,612,000 after acquiring an additional 870 shares during the period. Marest Capital LLC bought a new position in shares of Target during the first quarter valued at approximately $210,000. Finally, Tradewinds Capital Management LLC raised its position in shares of Target by 909.1% during the 1st quarter. Tradewinds Capital Management LLC now owns 1,110 shares of the retailer’s stock worth $197,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TGT. Stifel Nicolaus increased their target price on Target from $153.00 to $177.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Barclays increased their price objective on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. BMO Capital Markets reduced their target price on shares of Target from $170.00 to $155.00 and set a “market perform” rating for the company in a research note on Thursday, May 23rd. Evercore ISI raised their price target on shares of Target from $165.00 to $166.00 and gave the company an “in-line” rating in a research note on Thursday, June 20th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $190.00 price objective on shares of Target in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Target presently has an average rating of “Moderate Buy” and an average target price of $177.61.

Target Price Performance

NYSE TGT opened at $144.75 on Thursday. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The business’s fifty day moving average is $152.12 and its two-hundred day moving average is $153.41. The stock has a market capitalization of $66.97 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.37 and a beta of 1.19. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.27 and a current ratio of 0.86.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 22nd. The retailer reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.02). Target had a return on equity of 31.91% and a net margin of 3.87%. The company had revenue of $24.14 billion for the quarter, compared to analyst estimates of $24.52 billion. During the same period last year, the firm earned $2.05 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, research analysts forecast that Target Co. will post 9.32 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 21st will be paid a dividend of $1.12 per share. The ex-dividend date is Wednesday, August 21st. This is a positive change from Target’s previous quarterly dividend of $1.10. This represents a $4.48 dividend on an annualized basis and a yield of 3.09%. Target’s dividend payout ratio is currently 49.38%.

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.