Target Corporation (NYSE:TGT) Shares Bought by Mandatum Life Insurance Co Ltd

Mandatum Life Insurance Co Ltd lifted its position in shares of Target Corporation (NYSE:TGT - Free Report) by 15.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,723 shares of the retailer's stock after buying an additional 5,000 shares during the period. Target makes up approximately 1.2% of Mandatum Life Insurance Co Ltd's portfolio, making the stock its 23rd largest position. Mandatum Life Insurance Co Ltd's holdings in Target were worth $3,937,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGT. Retirement Planning Co of New England Inc. boosted its position in Target by 15.8% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 6,859 shares of the retailer's stock valued at $716,000 after buying an additional 938 shares during the period. Pzena Investment Management LLC acquired a new stake in shares of Target in the 1st quarter valued at $36,018,000. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Target by 38.9% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 19,114 shares of the retailer's stock valued at $1,995,000 after purchasing an additional 5,350 shares in the last quarter. Members Trust Co raised its holdings in shares of Target by 18.2% in the 1st quarter. Members Trust Co now owns 3,357 shares of the retailer's stock valued at $350,000 after purchasing an additional 518 shares in the last quarter. Finally, Bailard Inc. raised its holdings in shares of Target by 2.0% in the 1st quarter. Bailard Inc. now owns 82,753 shares of the retailer's stock valued at $8,636,000 after purchasing an additional 1,597 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company's stock.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the transaction, the insider owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Target Price Performance

Shares of NYSE:TGT traded down $0.13 during trading hours on Friday, hitting $103.52. 597,481 shares of the company's stock traded hands, compared to its average volume of 6,267,607. Target Corporation has a 52 week low of $87.35 and a 52 week high of $167.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. The company's fifty day simple moving average is $98.33 and its two-hundred day simple moving average is $109.90. The company has a market cap of $47.03 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 2.90 and a beta of 1.22.

Target (NYSE:TGT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a return on equity of 25.59% and a net margin of 3.95%. The firm had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the previous year, the business earned $2.03 earnings per share. The business's quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Wednesday, August 13th. Target's dividend payout ratio is 49.23%.

Wall Street Analyst Weigh In

Several brokerages recently commented on TGT. Morgan Stanley cut their price target on shares of Target from $160.00 to $112.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Wells Fargo & Company cut their price target on shares of Target from $135.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Royal Bank Of Canada dropped their price objective on shares of Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Barclays assumed coverage on shares of Target in a research note on Thursday, May 22nd. They issued an "equal weight" rating on the stock. Finally, Piper Sandler set a $94.00 target price on shares of Target and gave the company a "neutral" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $116.00.

Target Company 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.

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