Norden Group LLC Trims Stock Holdings in Target Co. (NYSE:TGT)

Norden Group LLC decreased its position in Target Co. (NYSE:TGT) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,229 shares of the retailer’s stock after selling 257 shares during the quarter. Norden Group LLC’s holdings in Target were worth $301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its position in Target by 1.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after acquiring an additional 490 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of Target by 25.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after purchasing an additional 3,590 shares in the last quarter. Northeast Financial Group Inc. purchased a new position in shares of Target during the fourth quarter valued at approximately $1,566,000. D.A. Davidson & CO. boosted its position in shares of Target by 8.6% in the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock worth $18,619,000 after purchasing an additional 9,510 shares in the last quarter. Finally, LMG Wealth Partners LLC purchased a new stake in shares of Target in the 4th quarter worth approximately $1,438,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of Target stock opened at $117.05 on Wednesday. The stock’s fifty day moving average is $133.23 and its 200 day moving average is $142.09. Target Co. has a one year low of $112.53 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The stock has a market cap of $53.63 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.94 and a beta of 1.15.

Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to analysts’ expectations of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Sell-side analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th were paid a $1.12 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.83%. Target’s dividend payout ratio (DPR) is presently 47.51%.

Analysts Set New Price Targets

A number of research analysts have issued reports on TGT shares. HSBC cut Target from a “buy” rating to a “hold” rating and set a $138.00 price objective for the company. in a research note on Wednesday, November 20th. Evercore ISI dropped their price target on shares of Target from $165.00 to $130.00 and set an “in-line” rating on the stock in a research note on Thursday, November 21st. Sanford C. Bernstein increased their price objective on shares of Target from $139.00 to $142.00 and gave the company a “market perform” rating in a research report on Tuesday, January 28th. Hsbc Global Res cut shares of Target from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, StockNews.com cut shares of Target from a “buy” rating to a “hold” rating in a report on Monday. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $156.43.

About Target

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.