Intact Investment Management Inc. Sells 27,400 Shares of Target Corporation (TGT)
Intact Investment Management Inc. lessened its stake in Target Corporation (NYSE:TGT) by 29.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 65,600 shares of the retailer’s stock after selling 27,400 shares during the quarter. Intact Investment Management Inc.’s holdings in Target Corporation were worth $3,430,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in TGT. Canal Capital Management LLC boosted its stake in shares of Target Corporation by 51.4% in the 1st quarter. Canal Capital Management LLC now owns 23,438 shares of the retailer’s stock valued at $1,294,000 after buying an additional 7,960 shares during the period. Advisory Services Network LLC purchased a new position in shares of Target Corporation in the 1st quarter valued at about $1,036,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Target Corporation by 1.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 89,059 shares of the retailer’s stock valued at $4,915,000 after buying an additional 1,060 shares during the period. Bowling Portfolio Management LLC purchased a new position in shares of Target Corporation in the 1st quarter valued at about $3,258,000. Finally, Private Capital Management Inc. boosted its stake in shares of Target Corporation by 32.1% in the 1st quarter. Private Capital Management Inc. now owns 20,600 shares of the retailer’s stock valued at $1,137,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 83.22% of the company’s stock.
Target Corporation (TGT) opened at 58.99 on Friday. Target Corporation has a one year low of $48.56 and a one year high of $79.33. The company’s 50-day moving average price is $56.82 and its 200-day moving average price is $55.00. The firm has a market cap of $32.22 billion, a price-to-earnings ratio of 11.92 and a beta of 0.60.
Target Corporation (NYSE:TGT) last announced its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $16.43 billion for the quarter, compared to the consensus estimate of $16.30 billion. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS. On average, analysts anticipate that Target Corporation will post $4.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Wednesday, November 15th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Tuesday, November 14th. Target Corporation’s dividend payout ratio (DPR) is 50.00%.
In other Target Corporation news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Hourigan Rice Jacqueline sold 4,679 shares of Target Corporation stock in a transaction on Friday, September 15th. The shares were sold at an average price of $59.37, for a total value of $277,792.23. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
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Several equities research analysts recently weighed in on the company. UBS AG restated a “neutral” rating and set a $56.00 target price (down previously from $60.00) on shares of Target Corporation in a research note on Tuesday, June 20th. BidaskClub cut Target Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Vetr cut Target Corporation from a “buy” rating to a “hold” rating and set a $59.67 target price for the company. in a research note on Monday, August 7th. Stifel Nicolaus restated a “hold” rating and set a $60.00 target price (up previously from $58.00) on shares of Target Corporation in a research note on Friday, August 18th. Finally, Gordon Haskett upgraded Target Corporation from a “sell” rating to a “hold” rating and boosted their target price for the stock from $47.00 to $58.00 in a research note on Wednesday, August 16th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $61.64.
About Target Corporation
Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.
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