Mandatum Life Insurance Co Ltd Raises Stake in Target Corporation $TGT

Mandatum Life Insurance Co Ltd boosted its holdings in Target Corporation (NYSE:TGT) by 18.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 44,723 shares of the retailer’s stock after buying an additional 7,000 shares during the period. Target makes up about 1.0% of Mandatum Life Insurance Co Ltd’s investment portfolio, making the stock its 25th largest position. Mandatum Life Insurance Co Ltd’s holdings in Target were worth $4,012,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Target by 14.7% during the 2nd quarter. Vanguard Group Inc. now owns 51,444,338 shares of the retailer’s stock worth $5,074,984,000 after purchasing an additional 6,607,982 shares during the period. Norges Bank acquired a new stake in Target in the second quarter valued at approximately $578,009,000. State Street Corp lifted its holdings in Target by 4.3% in the 2nd quarter. State Street Corp now owns 36,736,101 shares of the retailer’s stock worth $3,624,016,000 after buying an additional 1,529,026 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Target by 133.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,223,776 shares of the retailer’s stock valued at $219,376,000 after purchasing an additional 1,273,129 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Target by 96.1% during the 2nd quarter. California Public Employees Retirement System now owns 2,165,396 shares of the retailer’s stock worth $213,616,000 after purchasing an additional 1,060,885 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Price Performance

Shares of TGT opened at $115.61 on Tuesday. The company has a market cap of $52.35 billion, a P/E ratio of 14.03, a PEG ratio of 11.83 and a beta of 1.14. The stock has a fifty day moving average price of $102.18 and a 200 day moving average price of $96.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.97 and a quick ratio of 0.27. Target Corporation has a 12 month low of $83.44 and a 12 month high of $132.47.

Target (NYSE:TGT) last posted its earnings results on Wednesday, November 19th. The retailer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. The company had revenue of $25.27 billion for the quarter, compared to analysts’ expectations of $25.44 billion. Target had a return on equity of 22.74% and a net margin of 3.58%.The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business posted $1.85 earnings per share. Target has set its FY 2025 guidance at 7.000-8.000 EPS. On average, research analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Wednesday, February 11th will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Wednesday, February 11th. Target’s payout ratio is 55.34%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and issued a $125.00 price target on shares of Target in a research note on Thursday, January 15th. Sanford C. Bernstein dropped their target price on shares of Target from $87.00 to $80.00 and set an “underperform” rating for the company in a research report on Thursday, November 20th. BMO Capital Markets reduced their price target on shares of Target from $95.00 to $90.00 and set a “market perform” rating on the stock in a research report on Thursday, November 20th. Roth Mkm set a $88.00 price target on Target in a research note on Thursday, November 20th. Finally, Citigroup cut their price objective on Target from $100.00 to $89.00 and set a “neutral” rating on the stock in a research note on Thursday, November 20th. Ten equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Target currently has a consensus rating of “Hold” and an average target price of $103.21.

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.