Canada Pension Plan Investment Board Has $93.94 Million Stake in Target Corporation $TGT

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Target Corporation by 17.3%, owning 900,178 shares valued at approximately $93.9 million after selling 188,754 shares.
• Target's stock currently has a consensus rating of "Hold" from analysts, with ten ratings for Buy, twenty-three for Hold, and three for Sell, while the consensus target price is set at $113.74.
• The company announced a quarterly dividend of $1.12 per share, resulting in an annualized dividend of $4.48 and a yield of 4.7%.

Canada Pension Plan Investment Board reduced its holdings in Target Corporation (NYSE:TGT - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 900,178 shares of the retailer's stock after selling 188,754 shares during the period. Canada Pension Plan Investment Board owned about 0.20% of Target worth $93,943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGT. Bernard Wealth Management Corp. purchased a new stake in shares of Target during the 4th quarter worth about $29,000. WPG Advisers LLC purchased a new stake in shares of Target during the 1st quarter worth about $32,000. Heck Capital Advisors LLC purchased a new stake in shares of Target during the 4th quarter worth about $40,000. Atwood & Palmer Inc. raised its stake in shares of Target by 951.4% during the 1st quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock worth $41,000 after purchasing an additional 352 shares in the last quarter. Finally, Abound Financial LLC purchased a new stake in shares of Target during the 1st quarter worth about $43,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TGT shares. Evercore ISI cut their price target on Target from $108.00 to $106.00 and set an "in-line" rating for the company in a research note on Thursday, August 21st. BMO Capital Markets cut their price objective on Target from $100.00 to $95.00 and set a "market perform" rating on the stock in a research note on Thursday, May 22nd. Citigroup lifted their price objective on Target from $94.00 to $100.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. Telsey Advisory Group reissued a "market perform" rating and set a $110.00 price objective on shares of Target in a report on Wednesday, August 20th. Finally, UBS Group decreased their price objective on Target from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, August 21st. Ten research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $113.74.

Target Trading Up 0.6%

Shares of TGT stock traded up $0.52 on Thursday, reaching $92.87. 1,910,176 shares of the stock were exchanged, compared to its average volume of 7,131,376. The stock has a market cap of $42.20 billion, a PE ratio of 10.80, a P/E/G ratio of 2.77 and a beta of 1.16. Target Corporation has a one year low of $87.35 and a one year high of $161.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.99 and a quick ratio of 0.32. The stock has a 50 day moving average price of $101.97 and a 200 day moving average price of $101.89.

Target (NYSE:TGT - Get Free Report) last released its earnings results on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.01. The company had revenue of $24.99 billion during the quarter, compared to the consensus estimate of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The firm's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities research analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Wednesday, August 13th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Wednesday, August 13th. Target's dividend payout ratio is currently 53.15%.

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.