Skandinaviska Enskilda Banken AB publ Lowers Holdings in Target Co. (NYSE:TGT)

Skandinaviska Enskilda Banken AB publ cut its holdings in Target Co. (NYSE:TGTFree Report) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,504 shares of the retailer’s stock after selling 251 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Target were worth $9,675,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TGT. Moneta Group Investment Advisors LLC increased its position in shares of Target by 95,980.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock worth $2,762,865,000 after purchasing an additional 18,518,448 shares in the last quarter. Norges Bank acquired a new stake in shares of Target during the fourth quarter worth about $725,870,000. Parnassus Investments LLC increased its position in shares of Target by 87.1% during the second quarter. Parnassus Investments LLC now owns 5,058,551 shares of the retailer’s stock worth $667,223,000 after purchasing an additional 2,355,191 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Target by 35.4% during the second quarter. Franklin Resources Inc. now owns 8,973,381 shares of the retailer’s stock worth $1,183,589,000 after buying an additional 2,343,668 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new position in shares of Target during the second quarter worth about $239,625,000. 78.33% of the stock is currently owned by institutional investors and hedge funds.

Target Trading Down 0.6 %

Shares of TGT opened at $146.53 on Monday. The stock has a fifty day moving average of $140.42 and a two-hundred day moving average of $127.37. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.18 and a current ratio of 0.86. The company has a market capitalization of $67.65 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $177.29.

Target (NYSE:TGTGet Free Report) last released its quarterly earnings data on Wednesday, November 15th. The retailer reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.62. The business had revenue of $25 billion during the quarter, compared to the consensus estimate of $25.28 billion. Target had a return on equity of 30.69% and a net margin of 3.40%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 EPS. As a group, analysts forecast that Target Co. will post 8.34 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 10th. Stockholders of record on Wednesday, February 21st will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.00%. Target’s payout ratio is 56.12%.

Insider Transactions at Target

In other news, insider Don H. Liu sold 16,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $130.00, for a total transaction of $2,080,000.00. Following the completion of the sale, the insider now directly owns 48,882 shares in the company, valued at approximately $6,354,660. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Don H. Liu sold 16,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $130.00, for a total transaction of $2,080,000.00. Following the completion of the sale, the insider now directly owns 48,882 shares of the company’s stock, valued at approximately $6,354,660. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Matthew L. Zabel sold 4,000 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $131.33, for a total transaction of $525,320.00. Following the sale, the insider now directly owns 16,486 shares of the company’s stock, valued at $2,165,106.38. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock worth $3,127,520 in the last ninety days. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TGT. Jefferies Financial Group lowered their price target on Target from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, November 14th. Citigroup lifted their price objective on Target from $117.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, November 16th. Wells Fargo & Company lifted their price objective on Target from $148.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. Evercore ISI lowered their price objective on Target from $135.00 to $130.00 and set an “in-line” rating on the stock in a report on Thursday, October 19th. Finally, Gordon Haskett raised Target from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Wednesday, February 7th. Fourteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $156.15.

Get Our Latest Stock Report on Target

About Target

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Target (NYSE:TGT)

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