Norges Bank Invests $587.90 Million in Target Corporation $TGT

Key Points

• Norges Bank bought a new Target stake in the fourth quarter, acquiring 6,014,348 shares valued at about $587.9 million. The position represented 1.33% of Target at quarter-end.
• Target recently reported strong quarterly results, with EPS of $1.71 beating estimates and revenue of $25.44 billion topping expectations. The company also reaffirmed its FY 2026 guidance range of 7.50 to 8.50 EPS.
• Target declared a quarterly dividend of $1.14 per share, or $4.56 annually, implying a 3.6% yield. Meanwhile, Wall Street’s overall view remains cautious, with a consensus rating of Hold and an average price target of $125.93.

Norges Bank purchased a new position in shares of Target Corporation (NYSE:TGT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,014,348 shares of the retailer's stock, valued at approximately $587,903,000. Norges Bank owned 1.33% of Target at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TGT. WFA of San Diego LLC bought a new stake in shares of Target during the 2nd quarter worth approximately $25,000. Global Wealth Strategies & Associates lifted its holdings in shares of Target by 192.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 292 shares of the retailer's stock worth $29,000 after acquiring an additional 192 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of Target during the 4th quarter worth approximately $30,000. Key Financial Inc lifted its holdings in shares of Target by 77.4% during the 3rd quarter. Key Financial Inc now owns 346 shares of the retailer's stock worth $31,000 after acquiring an additional 151 shares during the period. Finally, True Wealth Design LLC lifted its holdings in shares of Target by 168.9% during the 4th quarter. True Wealth Design LLC now owns 355 shares of the retailer's stock worth $35,000 after acquiring an additional 223 shares during the period. Institutional investors own 79.73% of the company's stock.

Target Price Performance

TGT stock opened at $127.25 on Monday. The company has a 50 day simple moving average of $123.56 and a 200 day simple moving average of $111.01. The stock has a market cap of $57.80 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 2.48 and a beta of 1.00. Target Corporation has a 1 year low of $83.44 and a 1 year high of $133.10. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, May 20th. The retailer reported $1.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.24. Target had a net margin of 3.24% and a return on equity of 22.92%. The business had revenue of $25.44 billion during the quarter, compared to analysts' expectations of $24.66 billion. During the same period in the prior year, the company earned $1.30 EPS. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Research analysts anticipate that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 13th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, May 13th. Target's dividend payout ratio is 60.24%.

Insider Transactions at Target

In other Target news, CAO Matthew A. Liegel sold 2,053 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total value of $240,591.07. Following the completion of the transaction, the chief accounting officer directly owned 12,143 shares in the company, valued at approximately $1,423,038.17. This represents a 14.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TGT. Weiss Ratings reiterated a "hold (c)" rating on shares of Target in a research report on Monday, May 4th. Oppenheimer upped their price objective on shares of Target from $130.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 4th. Freedom Capital cut shares of Target from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 20th. The Goldman Sachs Group upped their price objective on shares of Target from $112.00 to $127.00 and gave the stock a "neutral" rating in a research report on Thursday, May 21st. Finally, Sanford C. Bernstein reiterated a "market perform" rating and set a $124.00 price objective on shares of Target in a research report on Thursday, May 21st. Eleven research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $125.93.

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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