Intact Investment Management Inc. Sells 700 Shares of Target Co. (NYSE:TGT)

Intact Investment Management Inc. reduced its holdings in Target Co. (NYSE:TGT) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,600 shares of the retailer’s stock after selling 700 shares during the period. Intact Investment Management Inc.’s holdings in Target were worth $4,643,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. United Services Automobile Association boosted its holdings in Target by 2.9% in the 3rd quarter. United Services Automobile Association now owns 44,232 shares of the retailer’s stock valued at $4,891,000 after purchasing an additional 1,239 shares during the period. RFG Advisory LLC bought a new stake in shares of Target in the fourth quarter valued at about $605,000. Tower View Wealth Management LLC grew its position in Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock worth $26,000 after buying an additional 106 shares in the last quarter. Nordea Investment Management AB increased its stake in Target by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 519,634 shares of the retailer’s stock valued at $73,819,000 after acquiring an additional 24,066 shares during the period. Finally, Asio Capital LLC raised its holdings in Target by 109.9% in the 4th quarter. Asio Capital LLC now owns 27,267 shares of the retailer’s stock valued at $3,883,000 after acquiring an additional 14,274 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now directly owns 30,527 shares in the company, valued at $5,038,481.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the completion of the sale, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $165.05, for a total transaction of $495,150.00. Following the transaction, the insider now owns 30,527 shares in the company, valued at $5,038,481.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,600 shares of company stock valued at $8,819,598. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TGT. Barclays lifted their price target on shares of Target from $142.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Guggenheim lifted their target price on shares of Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. BMO Capital Markets increased their price target on shares of Target from $145.00 to $170.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 6th. Morgan Stanley increased their target price on Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Royal Bank of Canada upped their price target on Target from $157.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Eleven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Target currently has a consensus rating of “Moderate Buy” and an average price target of $181.85.

Target Trading Up 0.2 %

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

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

Target Dividend Announcement

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

Target 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.