BI Asset Management Fondsmaeglerselskab A S Acquires 46,228 Shares of Target Corporation $TGT

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Target Corporation (NYSE:TGT) by 115.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,333 shares of the retailer’s stock after buying an additional 46,228 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Target were worth $10,464,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Target by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 58,212,397 shares of the retailer’s stock valued at $5,690,262,000 after acquiring an additional 286,499 shares during the period. State Street Corp increased its stake in shares of Target by 0.3% during the fourth quarter. State Street Corp now owns 37,772,533 shares of the retailer’s stock valued at $3,692,265,000 after purchasing an additional 124,468 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Target by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,065,926 shares of the retailer’s stock valued at $1,668,194,000 after purchasing an additional 561,898 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Target by 2.4% during the fourth quarter. Franklin Resources Inc. now owns 6,194,448 shares of the retailer’s stock valued at $605,507,000 after purchasing an additional 142,937 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Target during the fourth quarter valued at approximately $587,903,000. 79.73% of the stock is currently owned by institutional investors.

Insider Activity at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of Target 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 in the company, valued at approximately $5,782,127.70. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on TGT. Barclays restated an “underweight” rating on shares of Target in a research note on Monday, June 1st. DA Davidson boosted their target price on Target from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. The Goldman Sachs Group reissued a “neutral” rating on shares of Target in a research note on Thursday, June 11th. KeyCorp restated a “sector weight” rating on shares of Target in a report on Thursday, May 21st. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Target in a research report on Friday, June 12th. Eleven investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $126.11.

Target Price Performance

Shares of NYSE TGT opened at $130.82 on Monday. The firm has a market cap of $59.42 billion, a P/E ratio of 17.28, a PEG ratio of 2.55 and a beta of 1.00. Target Corporation has a twelve month low of $83.44 and a twelve month high of $137.87. The company has a quick ratio of 0.30, a current ratio of 0.93 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average of $126.43 and a 200 day moving average of $115.16.

Target (NYSE:TGT) last issued its earnings results on Wednesday, May 20th. The retailer reported $1.71 EPS for the quarter, beating the consensus estimate of $1.47 by $0.24. The business had revenue of $25.44 billion for the quarter, compared to the consensus estimate of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The company’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. As a group, research analysts expect that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 12th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 3.5%. This is a boost from Target’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Wednesday, August 12th. Target’s payout ratio is 60.24%.

About Target

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.