Oslo Pensjonsforsikring AS Buys New Stake in Target Corporation $TGT

Oslo Pensjonsforsikring AS purchased a new position in Target Corporation (NYSE:TGT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,506 shares of the retailer’s stock, valued at approximately $546,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. WFA of San Diego LLC bought a new stake in shares of Target in the 2nd quarter valued at approximately $25,000. Jessup Wealth Management Inc acquired a new position in shares of Target in the 4th quarter worth approximately $25,000. Altshuler Shaham Ltd bought a new position in shares of Target during the 4th quarter worth approximately $26,000. Eagle Bay Advisors LLC bought a new position in shares of Target during the 4th quarter worth approximately $30,000. Finally, MidFirst Bank acquired a new stake in Target in the 4th quarter valued at $31,000. Institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of analyst reports. KeyCorp reiterated a “sector weight” rating on shares of Target in a research report on Thursday, May 21st. Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a report on Monday, June 15th. Wells Fargo & Company boosted their target price on shares of Target from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Wolfe Research raised shares of 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. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of Target in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $132.15.

Insider Activity

In other news, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the transaction, the insider owned 45,930 shares of the company’s stock, valued at $5,782,127.70. This represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is owned by company insiders.

Target Stock Performance

Shares of Target stock opened at $138.50 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The firm has a market cap of $62.91 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.73 and a beta of 0.98. The firm has a 50 day simple moving average of $130.10 and a 200 day simple moving average of $121.17. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $144.40.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $24.66 billion. During the same quarter in the prior year, the business earned $1.30 EPS. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Sell-side analysts predict that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 12th will be given a dividend of $1.16 per share. The ex-dividend date is Wednesday, August 12th. This is an increase 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 presently 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.