Ilmarinen Mutual Pension Insurance Co Buys 5,500 Shares of Target Co. (NYSE:TGT)

Ilmarinen Mutual Pension Insurance Co boosted its position in Target Co. (NYSE:TGT) by 11.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,000 shares of the retailer’s stock after buying an additional 5,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Target were worth $7,165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TGT. Geode Capital Management LLC increased its holdings in shares of Target by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 9,885,015 shares of the retailer’s stock valued at $1,332,317,000 after acquiring an additional 470,990 shares in the last quarter. Norges Bank bought a new stake in Target during the 4th quarter valued at $757,892,000. Bank of New York Mellon Corp raised its holdings in Target by 6.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,832,585 shares of the retailer’s stock worth $518,089,000 after buying an additional 234,409 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Target by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,144,828 shares of the retailer’s stock valued at $425,118,000 after buying an additional 91,357 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Target during the fourth quarter valued at about $297,122,000. Institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of NYSE TGT opened at $95.70 on Friday. The stock has a fifty day moving average of $119.41 and a 200-day moving average of $134.73. The stock has a market cap of $43.60 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a fifty-two week low of $90.62 and a fifty-two week high of $173.05.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share for the quarter, beating 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 analysts’ expectations of $30.83 billion. Equities research analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.68%. Target’s dividend payout ratio (DPR) is currently 50.56%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Target in a research report on Wednesday, March 5th. DA Davidson cut their target price on Target from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Wells Fargo & Company cut their price objective on shares of Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group lowered their target price on shares of Target from $166.00 to $142.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $140.24.

Target 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.