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Swedbank AB Sells 157,158 Shares of Target Co. (NYSE:TGT)

Target logo with Retail/Wholesale background

Swedbank AB cut its holdings in shares of Target Co. (NYSE:TGT - Free Report) by 23.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 515,074 shares of the retailer's stock after selling 157,158 shares during the quarter. Swedbank AB owned approximately 0.11% of Target worth $69,628,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new position in Target in the 3rd quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its position in shares of Target by 156.5% during the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer's stock valued at $34,000 after buying an additional 133 shares during the last quarter. FSA Wealth Management LLC purchased a new position in shares of Target in the third quarter worth $36,000. Catalyst Capital Advisors LLC bought a new position in shares of Target during the third quarter worth $38,000. Finally, MCF Advisors LLC grew its stake in Target by 175.3% during the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock valued at $35,000 after acquiring an additional 163 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore ISI decreased their price target on shares of Target from $165.00 to $130.00 and set an "in-line" rating on the stock in a research note on Thursday, November 21st. Piper Sandler decreased their target price on Target from $156.00 to $130.00 and set a "neutral" rating on the stock in a research report on Thursday, November 21st. Daiwa Capital Markets lowered Target from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. Citigroup lifted their price objective on Target from $130.00 to $133.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Finally, Hsbc Global Res downgraded Target from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $157.70.

Get Our Latest Research Report on Target

Target Trading Down 1.9 %

NYSE:TGT traded down $2.62 during midday trading on Friday, hitting $137.82. The stock had a trading volume of 4,056,278 shares, compared to its average volume of 4,646,549. The stock has a 50-day moving average of $134.80 and a 200 day moving average of $144.41. The company has a market capitalization of $63.15 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 2.28 and a beta of 1.16. Target Co. has a one year low of $120.21 and a one year high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion during the quarter, compared to the consensus estimate of $25.87 billion. During the same quarter in the previous year, the firm earned $2.10 earnings per share. The business's revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts forecast that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.25%. Target's dividend payout ratio is presently 47.51%.

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.

Further Reading

Institutional Ownership by Quarter for Target (NYSE:TGT)

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