DNB Asset Management AS Increases Stake in Target Corporation $TGT

Key Points

• DNB Asset Management AS nearly doubled its Target stake in the fourth quarter, increasing holdings by 99.4% to 168,423 shares valued at about $16.5 million.
• Target shares were down 1.4% in Friday trading, opening at $121.40, while the stock remains above its 50-day average but below its 52-week high of $133.10.
• Target reported better-than-expected earnings for the quarter, with EPS of $2.44 versus $2.16 estimated, and it also announced a quarterly dividend of $1.14 per share, yielding 3.8% annually.

DNB Asset Management AS raised its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 99.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,423 shares of the retailer's stock after buying an additional 83,979 shares during the period. DNB Asset Management AS's holdings in Target were worth $16,463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Neumann Capital Management LLC grew its holdings in Target by 0.8% in the 4th quarter. Neumann Capital Management LLC now owns 13,280 shares of the retailer's stock valued at $1,298,000 after buying an additional 100 shares in the last quarter. Binnacle Investments Inc grew its holdings in shares of Target by 11.4% in the second quarter. Binnacle Investments Inc now owns 1,013 shares of the retailer's stock valued at $100,000 after purchasing an additional 104 shares during the period. JNBA Financial Advisors grew its holdings in shares of Target by 3.4% in the fourth quarter. JNBA Financial Advisors now owns 3,361 shares of the retailer's stock valued at $329,000 after purchasing an additional 110 shares during the period. AlTi Global Inc. grew its holdings in shares of Target by 3.5% in the third quarter. AlTi Global Inc. now owns 3,608 shares of the retailer's stock valued at $323,000 after purchasing an additional 122 shares during the period. Finally, HUB Investment Partners LLC grew its holdings in shares of Target by 5.3% in the second quarter. HUB Investment Partners LLC now owns 2,467 shares of the retailer's stock valued at $243,000 after purchasing an additional 124 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Down 1.4%

Shares of TGT stock opened at $121.40 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.94 and a quick ratio of 0.36. The firm has a market cap of $55.14 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 3.62 and a beta of 1.01. The company has a 50-day moving average of $122.00 and a two-hundred day moving average of $108.56. Target Corporation has a 1-year low of $83.44 and a 1-year high of $133.10.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Tuesday, March 3rd. The retailer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.28. The company had revenue of $30.45 billion during the quarter, compared to analyst estimates of $30.52 billion. Target had a net margin of 3.54% and a return on equity of 22.25%. Target's revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.41 earnings per share. Target has set its Q1 2026 guidance at 1.300- EPS and its FY 2026 guidance at 7.500-8.500 EPS. On average, analysts predict that Target Corporation will post 8.02 EPS for the current year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 13th will be paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, May 13th. Target's dividend payout ratio (DPR) is 56.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TGT shares. Truist Financial upped their price objective on shares of Target from $121.00 to $123.00 and gave the company a "hold" rating in a report on Wednesday. Telsey Advisory Group upped their price objective on shares of Target from $145.00 to $148.00 and gave the company an "outperform" rating in a report on Friday. The Goldman Sachs Group upped their price objective on shares of Target from $91.00 to $112.00 and gave the company a "neutral" rating in a report on Wednesday, March 4th. BMO Capital Markets upped their price objective on shares of Target from $105.00 to $130.00 and gave the company a "market perform" rating in a report on Wednesday, March 4th. Finally, Evercore set a $125.00 price objective on shares of Target in a report on Tuesday, April 21st. Eleven research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $119.75.

Insiders Place Their Bets

In other Target news, CAO Matthew A. Liegel sold 2,053 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total transaction of $240,591.07. Following the completion of the transaction, the chief accounting officer owned 12,143 shares of the company's stock, valued at $1,423,038.17. This trade represents a 14.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by company insiders.

Target 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.

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