Target Corporation (NYSE:TGT) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. grew its holdings in shares of Target Corporation (NYSE:TGT) by 101.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,598 shares of the retailer’s stock after purchasing an additional 18,400 shares during the quarter. Intact Investment Management Inc.’s holdings in Target were worth $3,819,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Monte Financial Group LLC lifted its stake in shares of Target by 31.0% during the 1st quarter. Monte Financial Group LLC now owns 71,276 shares of the retailer’s stock worth $7,438,000 after purchasing an additional 16,865 shares during the period. Praxis Investment Management Inc. lifted its stake in shares of Target by 16.5% during the 1st quarter. Praxis Investment Management Inc. now owns 8,950 shares of the retailer’s stock worth $934,000 after purchasing an additional 1,270 shares during the period. PFG Investments LLC lifted its stake in shares of Target by 19.7% during the 1st quarter. PFG Investments LLC now owns 12,558 shares of the retailer’s stock worth $1,311,000 after purchasing an additional 2,067 shares during the period. Advocate Group LLC lifted its stake in shares of Target by 5.3% during the 1st quarter. Advocate Group LLC now owns 64,454 shares of the retailer’s stock worth $6,726,000 after purchasing an additional 3,238 shares during the period. Finally, Dale Q Rice Investment Management Ltd purchased a new position in shares of Target during the 1st quarter worth $229,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Up 0.6%

Shares of NYSE TGT opened at $95.68 on Friday. Target Corporation has a 1 year low of $87.35 and a 1 year high of $167.40. The firm has a market cap of $43.47 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 2.75 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. The stock’s 50-day simple moving average is $95.67 and its 200-day simple moving average is $113.90.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). The firm had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. Target had a return on equity of 25.59% and a net margin of 3.95%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $2.03 earnings per share. As a group, equities analysts anticipate that Target Corporation will post 8.69 earnings per share for the current fiscal year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.68%. Target’s dividend payout ratio (DPR) is 49.23%.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the transaction, the insider now directly owns 246,453 shares in the company, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on TGT shares. Evercore ISI reduced their target price on Target from $130.00 to $120.00 and set an “in-line” rating on the stock in a report on Tuesday, April 1st. Bank of America cut Target from a “buy” rating to a “neutral” rating and reduced their target price for the company from $145.00 to $105.00 in a report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their target price on Target from $105.00 to $109.00 and gave the company a “neutral” rating in a report on Thursday, May 22nd. DA Davidson reduced their target price on Target from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, May 22nd. Finally, Baird R W cut Target from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $116.70.

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.