Swedbank AB Buys 12,971 Shares of Target Corporation $TGT

Swedbank AB grew its stake in shares of Target Corporation (NYSE:TGT) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 539,540 shares of the retailer’s stock after buying an additional 12,971 shares during the period. Swedbank AB’s holdings in Target were worth $65,392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TGT. Brighton Jones LLC grew its stake in Target by 101.3% during the fourth quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock valued at $822,000 after acquiring an additional 3,059 shares in the last quarter. Woodline Partners LP lifted its stake in Target by 39.9% in the 1st quarter. Woodline Partners LP now owns 38,712 shares of the retailer’s stock worth $4,040,000 after purchasing an additional 11,047 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Target by 22.8% in the 2nd quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer’s stock worth $6,872,000 after purchasing an additional 12,948 shares in the last quarter. Sei Investments Co. boosted its holdings in Target by 8.0% in the 2nd quarter. Sei Investments Co. now owns 190,860 shares of the retailer’s stock valued at $18,832,000 after purchasing an additional 14,195 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in Target by 11.0% in the 2nd quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer’s stock valued at $26,910,000 after purchasing an additional 27,063 shares during the period. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TGT shares. JPMorgan Chase & Co. increased their price objective on Target from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Wells Fargo & Company upped their target price on Target from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Wolfe Research raised Target from a “peer perform” rating to an “outperform” rating and set a $162.00 price target on the stock in a report on Tuesday, June 23rd. Truist Financial lifted their price target on Target from $123.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, May 20th. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of Target in a report on Thursday, June 11th. Twelve investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Target currently has an average rating of “Hold” and a consensus target price of $130.64.

Target Stock Performance

NYSE:TGT opened at $127.55 on Wednesday. The company has a market capitalization of $57.93 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.46 and a beta of 0.98. The business has a 50 day moving average of $128.10 and a 200 day moving average of $118.40. 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 Corporation has a 1-year low of $83.44 and a 1-year high of $142.82.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.24. The business had revenue of $25.44 billion for the quarter, compared to analysts’ expectations of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, sell-side analysts predict that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $4.64 annualized dividend and a dividend yield of 3.6%. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s payout ratio is 60.24%.

Insider Buying and Selling

In other Target news, insider Cara A. Sylvester sold 10,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the sale, the insider directly owned 45,930 shares of the company’s stock, valued at $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by 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.