SEB Asset Management AB Buys New Position in Target Corporation $TGT

SEB Asset Management AB acquired a new stake in Target Corporation (NYSE:TGT) in the 1st quarter, Holdings Channel reports. The firm acquired 102,004 shares of the retailer’s stock, valued at approximately $12,363,000.

Several other hedge funds and other institutional investors have also modified their holdings of TGT. WFA of San Diego LLC acquired a new stake in Target in the 2nd quarter worth $25,000. Jessup Wealth Management Inc bought a new position in shares of Target during the 4th quarter worth about $25,000. Altshuler Shaham Ltd acquired a new position in shares of Target during the fourth quarter valued at about $26,000. Eagle Bay Advisors LLC acquired a new position in shares of Target during the fourth quarter valued at about $30,000. Finally, MidFirst Bank bought a new stake in shares of Target in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Up 0.0%

Shares of NYSE TGT opened at $139.63 on Tuesday. The firm’s 50-day simple moving average is $129.77 and its 200 day simple moving average is $120.88. The company has a market cap of $63.42 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 2.73 and a beta of 0.98. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. Target Corporation has a 12-month low of $83.44 and a 12-month high of $144.40.

Target (NYSE:TGT) last issued its quarterly earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.24. The business 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%. Target’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, research analysts expect that Target Corporation will post 8.35 earnings per share for the current fiscal year.

Target Increases Dividend

The business 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. This represents a $4.64 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, August 12th. Target’s dividend payout ratio is currently 60.24%.

Insiders Place Their Bets

In other news, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was 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. This represents a 17.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Target from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Wall Street Zen raised Target from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Freedom Capital downgraded shares of Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 20th. Jefferies Financial Group boosted their price target on shares of Target from $140.00 to $161.00 and gave the company a “buy” rating in a report on Friday, June 26th. Finally, Evercore set a $130.00 price objective on shares of Target in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $132.15.

Target Company 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.