Lansforsakringar Fondforvaltning AB publ Raises Holdings in Target Corporation $TGT

Lansforsakringar Fondforvaltning AB publ increased its position in Target Corporation (NYSE:TGT) by 3.5% in the 1st quarter, Holdings Channel reports. The firm owned 155,236 shares of the retailer’s stock after buying an additional 5,248 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Target were worth $18,815,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of TGT. 3Chopt Investment Partners LLC boosted its position in Target by 13.4% during the first quarter. 3Chopt Investment Partners LLC now owns 4,745 shares of the retailer’s stock worth $575,000 after acquiring an additional 560 shares during the last quarter. Asset Allocation Strategies LLC raised its holdings in Target by 21.9% in the 1st quarter. Asset Allocation Strategies LLC now owns 3,042 shares of the retailer’s stock valued at $369,000 after acquiring an additional 547 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in shares of Target by 17.5% during the 1st quarter. Apollon Wealth Management LLC now owns 10,705 shares of the retailer’s stock worth $1,297,000 after purchasing an additional 1,598 shares during the period. Red Door Wealth Management LLC purchased a new position in shares of Target during the 1st quarter worth $228,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Target by 310.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 20,996 shares of the retailer’s stock worth $2,545,000 after purchasing an additional 15,886 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

TGT has been the subject of several analyst reports. Royal Bank Of Canada upped their target price on Target from $132.00 to $153.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Guggenheim lifted their price target on Target from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday, June 12th. KeyCorp reissued a “sector weight” rating on shares of Target in a research report on Thursday, May 21st. Wells Fargo & Company upped their price target on shares of Target from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Target in a research note on Friday, June 12th. Twelve analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $130.64.

Insiders Place Their Bets

In other news, insider Cara A. Sylvester sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $125.89, for a total transaction of $1,258,900.00. Following the completion of the sale, the insider directly owned 45,930 shares in the company, valued at $5,782,127.70. This trade represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Target Trading Down 2.4%

TGT opened at $130.65 on Wednesday. The firm has a market capitalization of $59.34 billion, a P/E ratio of 17.26, a P/E/G ratio of 2.62 and a beta of 1.00. The firm’s 50 day moving average is $128.26 and its 200-day moving average is $117.29. Target Corporation has a 52-week low of $83.44 and a 52-week high of $142.82. 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 (NYSE:TGT) last announced its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.24. The business had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. Target had a net margin of 3.24% and a return on equity of 22.92%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 earnings per share. Target has set its FY 2026 guidance at 7.500-8.500 EPS. Analysts expect that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 12th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 12th. This is an increase from Target’s previous quarterly dividend of $1.14. Target’s dividend payout ratio is currently 60.24%.

Target 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.