Target Co. (NYSE:TGT) Stock Position Raised by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of Target Co. (NYSE:TGT) by 7.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,245 shares of the retailer’s stock after purchasing an additional 5,192 shares during the period. CIBC Asset Management Inc’s holdings in Target were worth $12,351,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc lifted its stake in Target by 6.8% during the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock valued at $647,652,000 after buying an additional 279,656 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Target by 11.4% during the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after acquiring an additional 440,307 shares during the period. Clearbridge Investments LLC boosted its stake in Target by 17.5% in the 1st quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock worth $558,898,000 after purchasing an additional 470,647 shares during the period. Dimensional Fund Advisors LP boosted its stake in Target by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock worth $461,031,000 after purchasing an additional 435,229 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its position in Target by 9.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock worth $458,131,000 after purchasing an additional 272,521 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. The trade was a 4.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total value of $153,130.00. Following the transaction, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This represents a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on TGT. Citigroup raised their target price on Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Jefferies Financial Group raised their price objective on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets raised shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Monday, August 26th. Oppenheimer decreased their price target on shares of Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, Roth Mkm increased their target price on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Target currently has an average rating of “Moderate Buy” and a consensus target price of $179.47.

Target Stock Down 0.9 %

TGT opened at $152.13 on Friday. Target Co. has a 1-year low of $127.19 and a 1-year high of $181.86. The business has a 50 day moving average of $152.56 and a 200-day moving average of $150.39. The stock has a market capitalization of $70.08 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 2.00 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last posted its quarterly earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. During the same period last year, the business posted $1.80 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Target Co. will post 9.54 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio is presently 46.28%.

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.