Mandatum Life Insurance Co Ltd Has $3.94 Million Stock Position in Target Corporation (NYSE:TGT)

Mandatum Life Insurance Co Ltd boosted its position in shares of Target Corporation (NYSE:TGT) by 15.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 37,723 shares of the retailer’s stock after buying an additional 5,000 shares during the quarter. Target makes up about 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Target by 101.3% during the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer’s stock worth $822,000 after acquiring an additional 3,059 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Target by 74.3% during the 4th quarter. Proficio Capital Partners LLC now owns 4,480 shares of the retailer’s stock worth $606,000 after acquiring an additional 1,910 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Target by 2.9% in the 4th quarter. Advisors Asset Management Inc. now owns 24,075 shares of the retailer’s stock valued at $3,254,000 after buying an additional 675 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in shares of Target by 1.4% in the fourth quarter. Royal London Asset Management Ltd. now owns 196,592 shares of the retailer’s stock valued at $26,575,000 after buying an additional 2,659 shares in the last quarter. Finally, First National Bank of Hutchinson grew its stake in shares of Target by 4.1% in the fourth quarter. First National Bank of Hutchinson now owns 5,631 shares of the retailer’s stock valued at $761,000 after buying an additional 221 shares in the last quarter. 79.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Target

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

Analyst Ratings Changes

Several equities research analysts have issued reports on TGT shares. JPMorgan Chase & Co. raised their price target on Target from $105.00 to $109.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. Barclays started coverage on Target in a report on Thursday, May 22nd. They set an “equal weight” rating for the company. BMO Capital Markets dropped their target price on Target from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, May 22nd. DA Davidson dropped their target price on Target from $140.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, May 22nd. Finally, Piper Sandler set a $94.00 price target on Target and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $116.00.

Target Price Performance

Shares of Target stock traded down $0.13 on Friday, hitting $103.52. 597,481 shares of the company were exchanged, compared to its average volume of 6,267,607. The stock has a market capitalization 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. The company has a 50-day moving average price of $98.33 and a 200 day moving average price of $109.90. Target Corporation has a 1-year low of $87.35 and a 1-year high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The business had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the prior year, the company posted $2.03 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Announces Dividend

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

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.