Target Corporation $TGT Shares Bought by Skandinaviska Enskilda Banken AB publ

by · The Cerbat Gem

Skandinaviska Enskilda Banken AB publ increased its stake in Target Corporation (NYSE:TGT – Free Report) by 1.6% during the second quarter, HoldingsChannel reports. The firm owned 95,808 shares of the retailer’s stock after acquiring an additional 1,475 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Target were worth $9,451,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Punch & Associates Investment Management Inc. raised its position in shares of Target by 48.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock valued at $8,786,000 after buying an additional 27,329 shares during the last quarter. Precedent Wealth Partners LLC increased its position in shares of Target by 27.7% during the second quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after purchasing an additional 2,869 shares during the period. PDT Partners LLC bought a new stake in shares of Target during the first quarter valued at approximately $4,623,000. Mattern Capital Management LLC lifted its position in Target by 7.6% in the second quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock worth $7,809,000 after purchasing an additional 5,573 shares during the period. Finally, Northern Financial Advisors Inc bought a new position in Target in the second quarter worth $370,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Stock Performance

Shares of Target stock opened at $90.85 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The firm has a 50 day simple moving average of $90.07 and a 200 day simple moving average of $95.57. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $145.08. The firm has a market cap of $41.28 billion, a P/E ratio of 10.59, a P/E/G ratio of 2.74 and a beta of 1.19.

Target (NYSE:TGT – Get Free Report) last released its earnings results on Wednesday, November 19th. The retailer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.71 by $0.07. The company had revenue of $25.27 billion during the quarter, compared to analysts’ expectations of $25.44 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $1.85 EPS. Target has set its FY 2025 guidance at 7.000-8.000 EPS. Sell-side analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $1.14 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This is a boost from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a yield of 5.0%. Target’s payout ratio is 55.34%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TGT shares. Jefferies Financial Group dropped their price objective on shares of Target from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Evercore ISI reissued a “positive” rating and issued a $100.00 target price on shares of Target in a report on Thursday, November 20th. Bank of America dropped their price objective on Target from $93.00 to $80.00 and set an “underperform” rating for the company in a research note on Thursday, November 20th. TD Cowen reduced their target price on shares of Target from $105.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, November 20th. Finally, Zacks Research cut shares of Target from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Ten research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $102.00.

Read Our Latest Research Report on TGT

Target Profile

(Free Report)

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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