BNP Paribas Purchases 6,222 Shares of Target Co. (NYSE:TGT)

BNP Paribas increased its holdings in Target Co. (NYSE:TGT - Free Report) by 366.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,922 shares of the retailer's stock after buying an additional 6,222 shares during the quarter. BNP Paribas' holdings in Target were worth $1,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Target during the 4th quarter valued at about $757,892,000. Raymond James Financial Inc. purchased a new position in Target during the fourth quarter valued at approximately $297,122,000. Ameriprise Financial Inc. boosted its position in shares of Target by 61.2% in the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock worth $536,407,000 after purchasing an additional 1,506,275 shares during the period. FMR LLC increased its stake in shares of Target by 13.6% in the fourth quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock worth $1,532,769,000 after purchasing an additional 1,358,348 shares in the last quarter. Finally, Capital World Investors raised its position in shares of Target by 6.3% during the 4th quarter. Capital World Investors now owns 21,930,569 shares of the retailer's stock valued at $2,964,565,000 after purchasing an additional 1,306,552 shares during the period. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analysts Set New Price Targets

TGT has been the subject of several recent analyst reports. Stifel Nicolaus dropped their target price on shares of Target from $130.00 to $120.00 and set a "hold" rating for the company in a report on Thursday, March 20th. Wells Fargo & Company cut their target price on Target from $150.00 to $135.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Robert W. Baird downgraded Target from an "outperform" rating to a "neutral" rating and set a $110.00 target price on the stock. in a research note on Monday, April 7th. Piper Sandler dropped their price target on Target from $132.00 to $124.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. Finally, Cfra Research cut shares of Target from a "moderate buy" rating to a "hold" rating in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Target presently has an average rating of "Hold" and a consensus price target of $131.20.

Target Trading Down 0.6 %

Target stock traded down $0.54 during midday trading on Friday, reaching $96.39. The stock had a trading volume of 4,612,895 shares, compared to its average volume of 5,805,287. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a market cap of $43.80 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 1.94 and a beta of 1.27. Target Co. has a 52-week low of $87.35 and a 52-week high of $167.40. The company has a fifty day moving average of $99.88 and a 200 day moving average of $123.63.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm had revenue of $30.92 billion for the quarter, compared to the consensus estimate of $30.83 billion. On average, analysts anticipate that Target Co. will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date is Wednesday, May 14th. Target's dividend payout ratio is currently 50.56%.

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.