Desjardins Global Asset Management Inc. Decreases Holdings in Target Co. (NYSE:TGT)

Desjardins Global Asset Management Inc. decreased its position in shares of Target Co. (NYSE:TGT) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,321 shares of the retailer’s stock after selling 867 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Target were worth $2,894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGT. Moneta Group Investment Advisors LLC raised its holdings in shares of Target by 95,980.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock worth $2,762,865,000 after buying an additional 18,518,448 shares during the last quarter. Norges Bank purchased a new position in shares of Target in the fourth quarter worth $725,870,000. International Assets Investment Management LLC raised its holdings in shares of Target by 15,009.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock worth $250,244,000 after buying an additional 1,745,459 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Target by 37,301.2% in the third quarter. Clearbridge Investments LLC now owns 1,698,764 shares of the retailer’s stock worth $187,832,000 after buying an additional 1,694,222 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Target by 252.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,166,161 shares of the retailer’s stock worth $358,782,000 after buying an additional 1,551,551 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Trading Down 0.9 %

TGT stock traded down $1.53 during trading on Tuesday, reaching $163.48. 2,136,383 shares of the stock were exchanged, compared to its average volume of 3,778,018. The company has a current ratio of 0.91, a quick ratio of 0.29 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average price of $162.13 and a 200-day moving average price of $139.80. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The firm has a market capitalization of $75.48 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.56 and a beta of 1.14.

Target (NYSE:TGT) last issued its earnings results 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 net margin of 3.85% and a return on equity of 33.41%. The company had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $31.83 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. Target’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, research analysts predict that Target Co. will post 9.39 earnings per share for the current year.

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio (DPR) is 49.27%.

Analysts Set New Price Targets

TGT has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of Target from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Telsey Advisory Group raised their price target on shares of Target from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Target from a “hold” rating to a “buy” rating and raised their price target for the company from $149.00 to $206.00 in a research report on Wednesday, March 6th. BMO Capital Markets raised their price target on shares of Target from $145.00 to $170.00 and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Finally, Gordon Haskett raised their price target on shares of Target from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $181.85.

Insider Activity

In other news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were 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 of the company’s stock, valued at approximately $5,038,481.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Christina Hennington sold 4,600 shares of Target stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the completion of the transaction, the insider now owns 38,487 shares in the company, valued at $6,576,658.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Melissa K. Kremer sold 3,000 shares of Target stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total transaction of $495,150.00. Following the completion of the transaction, the insider now owns 30,527 shares of the company’s stock, valued at approximately $5,038,481.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,600 shares of company stock valued at $8,819,598. Company insiders own 0.23% of the company’s stock.

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.