Intact Investment Management Inc. Decreases Stock Holdings in Target Co. (NYSE:TGT)

Intact Investment Management Inc. cut its holdings in Target Co. (NYSE:TGT) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,600 shares of the retailer’s stock after selling 700 shares during the quarter. Intact Investment Management Inc.’s holdings in Target were worth $4,643,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its holdings in shares of Target by 5.5% in the third quarter. Handelsbanken Fonder AB now owns 141,326 shares of the retailer’s stock valued at $15,626,000 after purchasing an additional 7,377 shares during the period. Simplicity Solutions LLC grew its position in shares of Target by 1.4% during the 3rd quarter. Simplicity Solutions LLC now owns 9,487 shares of the retailer’s stock worth $1,049,000 after buying an additional 131 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in shares of Target by 13.7% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 18,674 shares of the retailer’s stock valued at $2,065,000 after buying an additional 2,254 shares during the period. Lantz Financial LLC raised its holdings in shares of Target by 5.3% in the third quarter. Lantz Financial LLC now owns 4,067 shares of the retailer’s stock valued at $450,000 after acquiring an additional 204 shares in the last quarter. Finally, Avestar Capital LLC lifted its stake in Target by 48.1% in the third quarter. Avestar Capital LLC now owns 2,578 shares of the retailer’s stock worth $285,000 after acquiring an additional 837 shares during the period. Institutional investors own 79.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TGT shares. HSBC upgraded shares of Target from a “hold” rating to a “buy” rating and boosted their price target for the company from $140.00 to $195.00 in a report on Wednesday, March 6th. The Goldman Sachs Group increased their target price on Target from $176.00 to $194.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Truist Financial boosted their price target on Target from $142.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Tigress Financial lifted their target price on Target from $180.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada lifted their price objective on shares of Target from $157.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.85.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the completion of the sale, the insider now directly owns 346,919 shares in the company, valued at $58,115,870.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now directly owns 30,527 shares in the company, valued at $5,038,481.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now directly owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,600 shares of company stock worth $8,819,598. Insiders own 0.23% of the company’s stock.

Target Stock Performance

Shares of NYSE TGT traded up $0.30 during trading on Friday, reaching $164.74. 2,085,518 shares of the company traded hands, compared to its average volume of 2,821,609. Target Co. has a 12-month low of $102.93 and a 12-month high of $181.86. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The stock has a market cap of $76.06 billion, a P/E ratio of 18.45, a PEG ratio of 1.54 and a beta of 1.14. The firm’s fifty day simple moving average is $165.52 and its 200 day simple moving average is $143.25.

Target (NYSE:TGT) last posted its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.57. Target had a net margin of 3.85% and a return on equity of 33.41%. The firm had revenue of $31.47 billion during the quarter, compared to analyst estimates of $31.83 billion. During the same period in the previous year, the firm earned $1.89 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, research analysts anticipate that Target Co. will post 9.39 earnings per share for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s payout ratio is 49.27%.

Target Company Profile

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.