iA Global Asset Management Inc. Sells 11,345 Shares of Target Corporation $TGT

iA Global Asset Management Inc. lessened its stake in Target Corporation (NYSE:TGT) by 7.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,000 shares of the retailer’s stock after selling 11,345 shares during the quarter. iA Global Asset Management Inc.’s holdings in Target were worth $13,811,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TGT. Punch & Associates Investment Management Inc. lifted its holdings in shares of Target by 48.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 84,190 shares of the retailer’s stock valued at $8,786,000 after purchasing an additional 27,329 shares in the last quarter. Precedent Wealth Partners LLC lifted its holdings in shares of Target by 27.7% during the 2nd quarter. Precedent Wealth Partners LLC now owns 13,208 shares of the retailer’s stock valued at $1,303,000 after purchasing an additional 2,869 shares in the last quarter. Correct Capital Wealth Management lifted its holdings in shares of Target by 44.7% during the 1st quarter. Correct Capital Wealth Management now owns 13,556 shares of the retailer’s stock valued at $1,415,000 after purchasing an additional 4,189 shares in the last quarter. PDT Partners LLC bought a new position in shares of Target during the 1st quarter valued at about $4,623,000. Finally, Mattern Capital Management LLC lifted its holdings in shares of Target by 7.6% during the 2nd quarter. Mattern Capital Management LLC now owns 79,158 shares of the retailer’s stock valued at $7,809,000 after purchasing an additional 5,573 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TGT shares. Wolfe Research initiated coverage on Target in a report on Thursday, September 18th. They set an “underperform” rating and a $80.00 price objective on the stock. Barclays reiterated an “underweight” rating and set a $91.00 price objective on shares of Target in a report on Monday, July 21st. Citigroup increased their price objective on Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Target in a report on Wednesday, October 8th. Finally, Jefferies Financial Group decreased their price objective on Target from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, August 20th. Nine research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $109.00.

Target Stock Down 0.0%

NYSE:TGT opened at $92.92 on Friday. The firm has a market capitalization of $42.22 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 2.74 and a beta of 1.18. Target Corporation has a twelve month low of $85.36 and a twelve month high of $158.42. The stock’s 50 day moving average price is $91.37 and its two-hundred day moving average price is $96.43. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.01. The firm had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.57 EPS. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts expect that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a dividend of $1.14 per share. This is a positive change from Target’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $4.56 annualized dividend and a dividend yield of 4.9%. Target’s payout ratio is presently 53.15%.

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.