Target Co. (NYSE:TGT) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its holdings in Target Co. (NYSE:TGT) by 0.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 328,137 shares of the retailer’s stock after selling 2,904 shares during the period. Mackenzie Financial Corp’s holdings in Target were worth $44,358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nicholas Company Inc. raised its stake in Target by 20.5% in the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after buying an additional 9,485 shares in the last quarter. River Road Asset Management LLC raised its stake in Target by 144.9% in the fourth quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock valued at $31,699,000 after buying an additional 138,751 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new stake in Target in the fourth quarter valued at $6,459,000. Sierra Summit Advisors LLC raised its stake in Target by 29.0% in the fourth quarter. Sierra Summit Advisors LLC now owns 14,354 shares of the retailer’s stock valued at $1,940,000 after buying an additional 3,231 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its position in shares of Target by 25.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after purchasing an additional 3,590 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Stock Performance

NYSE TGT opened at $94.30 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $97.28 and its two-hundred day moving average is $119.76. Target Co. has a 12-month low of $87.35 and a 12-month high of $167.40. The stock has a market capitalization of $42.85 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 1.94 and a beta of 1.27.

Target (NYSE:TGT) last released its earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $24.20 billion for the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the previous year, the firm posted $2.03 EPS. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s payout ratio is 49.23%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Roth Mkm reiterated a “neutral” rating and set a $122.00 target price (down previously from $131.00) on shares of Target in a research report on Wednesday, March 5th. Evercore ISI cut their target price on Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. Barclays assumed coverage on Target in a research report on Thursday. They set an “equal weight” rating on the stock. UBS Group cut their target price on Target from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Finally, DA Davidson cut their target price on Target from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Target has a consensus rating of “Hold” and a consensus price target of $117.97.

About Target

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.