Intact Investment Management Inc. Acquires 18,400 Shares of Target Corporation (NYSE:TGT)

Intact Investment Management Inc. raised its holdings in shares of Target Corporation (NYSE:TGT - Free Report) by 101.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,598 shares of the retailer's stock after acquiring 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 reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Target during the 4th quarter valued at $757,892,000. Raymond James Financial Inc. acquired a new stake in Target during the 4th quarter valued at $297,122,000. Ameriprise Financial Inc. lifted its holdings in Target by 61.2% during the 4th quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer's stock valued at $536,407,000 after purchasing an additional 1,506,275 shares during the last quarter. FMR LLC lifted its holdings in Target by 13.6% during the 4th quarter. FMR LLC now owns 11,338,729 shares of the retailer's stock valued at $1,532,769,000 after purchasing an additional 1,358,348 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Target during the 4th quarter valued at $182,882,000. 79.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on TGT. Oppenheimer cut their price target on Target from $165.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Truist Financial lifted their target price on Target from $82.00 to $90.00 and gave the stock a "hold" rating 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 stock a "neutral" rating in a report on Thursday, May 22nd. Morgan Stanley dropped their target price on Target from $160.00 to $112.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Finally, Mizuho dropped their target price on Target from $92.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Target presently has a consensus rating of "Hold" and an average price target of $116.70.

Target Trading Up 1.1%

TGT traded up $1.03 during trading on Monday, hitting $96.57. The company's stock had a trading volume of 6,875,022 shares, compared to its average volume of 6,190,824. Target Corporation has a twelve month low of $87.35 and a twelve month high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96. The stock's fifty day moving average price is $95.67 and its 200-day moving average price is $113.80. The firm has a market capitalization of $43.88 billion, a P/E ratio of 10.61, a PEG ratio of 2.75 and a beta of 1.22.

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

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Wednesday, August 13th. Target's payout ratio is currently 49.23%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Target 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.