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

Key Points

• Swedbank AB increased its Target stake by 2.5% in the first quarter, buying 12,971 additional shares and bringing its total holding to 539,540 shares valued at about $65.4 million.
• Target posted stronger-than-expected quarterly results, reporting EPS of $1.71 versus estimates of $1.47 and revenue of $25.44 billion, up 6.7% year over year.
• Target raised its dividend to $1.16 per share from $1.14, implying an annualized payout of $4.64 and a dividend yield of about 3.6%.

Swedbank AB lifted its stake in shares of Target Corporation (NYSE:TGT - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 539,540 shares of the retailer's stock after buying an additional 12,971 shares during the period. Swedbank AB owned about 0.12% of Target worth $65,392,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of 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 purchasing an additional 3,059 shares in the last quarter. Woodline Partners LP grew its position 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 increased its stake in Target by 22.8% in the 2nd quarter. NewEdge Advisors LLC now owns 69,660 shares of the retailer's stock valued at $6,872,000 after buying an additional 12,948 shares during the last quarter. Sei Investments Co. increased its stake 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 buying an additional 14,195 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Target by 11.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 272,787 shares of the retailer's stock worth $26,910,000 after buying an additional 27,063 shares in the last quarter. Institutional investors own 79.73% of the company's stock.

Insider Buying and Selling

In related news, insider Cara A. Sylvester sold 10,000 shares of Target stock in a transaction that occurred 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 transaction, the insider directly owned 45,930 shares in the company, valued at approximately $5,782,127.70. The trade was a 17.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.13% of the company's stock.

Target Stock Up 1.2%

Shares of NYSE TGT opened at $127.55 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The stock has a market capitalization of $57.93 billion, a PE ratio of 16.85, a P/E/G ratio of 2.46 and a beta of 0.98. Target Corporation has a one year low of $83.44 and a one year high of $142.82. The business's fifty day moving average price is $128.10 and its 200-day moving average price is $118.40.

Target (NYSE:TGT - Get Free Report) last issued its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.24. The firm had revenue of $25.44 billion during the quarter, compared to analyst estimates of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The company's quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter 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, equities research analysts anticipate that Target Corporation will post 8.35 EPS for the current year.

Target Increases Dividend

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

Wall Street Analyst Weigh In

TGT has been the subject of several recent analyst reports. Argus set a $150.00 target price on Target in a report on Friday, May 22nd. Wells Fargo & Company upped their price objective on Target from $135.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. Truist Financial raised their target price on Target from $123.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, May 20th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Target in a research note on Thursday, June 11th. Finally, Wolfe Research upgraded shares of 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. Twelve equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $130.64.

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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