Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 41,150 Shares of Target Corporation $TGT

Key Points

• Fjarde AP Fonden increased its Target position by 52.2% in the first quarter, adding 41,150 shares to bring its total holdings to 119,951 shares worth about $14.5 million.
• Target reported better-than-expected quarterly results, with EPS of $1.71 versus estimates of $1.47 and revenue of $25.44 billion, up 6.7% year over year. The company also raised its full-year guidance to 7.50–8.50 EPS.
• Target announced a higher quarterly dividend of $1.16 per share and remains a stock with mostly cautious Wall Street sentiment, as analysts currently rate it a consensus Hold with an average price target of $130.64.

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Target Corporation (NYSE:TGT - Free Report) by 52.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,951 shares of the retailer's stock after buying an additional 41,150 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Target were worth $14,538,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TGT. Elevation Point Wealth Partners LLC grew its position in Target by 774.5% in the first quarter. Elevation Point Wealth Partners LLC now owns 35,127 shares of the retailer's stock worth $4,257,000 after acquiring an additional 31,110 shares in the last quarter. Sharp Wealth Advisory LLC raised its position in Target by 3.7% during the first quarter. Sharp Wealth Advisory LLC now owns 4,250 shares of the retailer's stock valued at $515,000 after purchasing an additional 150 shares during the period. Platform Technology Partners raised its position in Target by 3.4% during the first quarter. Platform Technology Partners now owns 3,720 shares of the retailer's stock valued at $451,000 after purchasing an additional 122 shares during the period. Blue Capital Inc. bought a new stake in shares of Target in the 1st quarter valued at approximately $243,000. Finally, Keybank National Association OH lifted its stake in shares of Target by 1.7% in the 1st quarter. Keybank National Association OH now owns 153,345 shares of the retailer's stock valued at $18,585,000 after purchasing an additional 2,542 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Target

In other 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 transaction 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 approximately $5,782,127.70. The trade was a 17.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TGT shares. Wall Street Zen raised Target from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Sanford C. Bernstein restated a "market perform" rating on shares of Target in a report on Monday, June 15th. Wolfe Research upgraded Target from a "peer perform" rating to an "outperform" rating and set a $162.00 price target for the company in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $123.00 price objective on shares of Target in a research note on Friday, May 15th. Finally, Evercore set a $130.00 price objective on shares of Target in a research report on Monday, May 18th. Twelve investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $130.64.

Target Trading Up 0.1%

TGT opened at $130.31 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. The stock's 50 day moving average price is $128.22 and its 200-day moving average price is $117.85. Target Corporation has a one year low of $83.44 and a one year high of $142.82. The stock has a market cap of $59.19 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 2.54 and a beta of 0.98.

Target (NYSE:TGT - Get Free Report) last issued its quarterly earnings results 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 return on equity of 22.92% and a net margin of 3.24%.The firm had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. During the same period last year, the company earned $1.30 EPS. Target'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. On average, equities analysts forecast that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

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

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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