Skandinaviska Enskilda Banken AB publ Purchases 400 Shares of Target Co. (NYSE:TGT)

Skandinaviska Enskilda Banken AB publ grew its position in shares of Target Co. (NYSE:TGT) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,409 shares of the retailer’s stock after buying an additional 400 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Target were worth $13,532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TGT. Triad Wealth Partners LLC bought a new stake in shares of Target in the second quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Target during the 4th quarter valued at $28,000. Slocum Gordon & Co LLP acquired a new stake in shares of Target during the 2nd quarter worth $28,000. Scarborough Advisors LLC bought a new position in shares of Target in the fourth quarter worth $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in Target in the second quarter valued at about $31,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Price Performance

Shares of TGT opened at $154.75 on Friday. The business has a 50-day moving average of $148.48 and a 200-day moving average of $154.98. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The company has a market capitalization of $71.59 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same quarter last year, the business earned $1.80 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Target Co. will post 9.53 earnings per share for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a yield of 2.89%. Target’s dividend payout ratio (DPR) is currently 50.28%.

Analyst Ratings Changes

TGT has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Truist Financial lifted their price objective on shares of Target from $156.00 to $162.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research note on Monday, August 26th. Stifel Nicolaus lifted their price target on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Finally, TD Cowen upped their price objective on Target from $165.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.68.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total value of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Target news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.13, for a total value of $153,130.00. Following the completion of the sale, the chief accounting officer now directly owns 7,276 shares in the company, valued at $1,114,173.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

About Target

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.