Mackenzie Financial Corp purchased a new position in shares of Target Co. (NYSE:TGT) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 6,173 shares of the retailer’s stock, valued at approximately $403,000.
Several other hedge funds also recently modified their holdings of TGT. Raymond James Financial Services Advisors Inc. increased its stake in shares of Target by 25.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 236,469 shares of the retailer’s stock worth $13,954,000 after purchasing an additional 47,705 shares during the last quarter. Principal Financial Group Inc. grew its stake in Target by 15.5% in the 3rd quarter. Principal Financial Group Inc. now owns 925,877 shares of the retailer’s stock valued at $54,636,000 after buying an additional 124,409 shares in the last quarter. Alps Advisors Inc. grew its stake in Target by 44.1% in the 3rd quarter. Alps Advisors Inc. now owns 12,845 shares of the retailer’s stock valued at $758,000 after buying an additional 3,934 shares in the last quarter. Sei Investments Co. grew its stake in Target by 18.7% in the 3rd quarter. Sei Investments Co. now owns 232,168 shares of the retailer’s stock valued at $13,701,000 after buying an additional 36,582 shares in the last quarter. Finally, BTC Capital Management Inc. purchased a new position in Target in the 3rd quarter valued at approximately $212,000. Institutional investors own 87.02% of the company’s stock.
In other news, insider Robert M. Harrison sold 8,557 shares of Target stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $76.74, for a total transaction of $656,664.18. Following the completion of the sale, the insider now directly owns 13,288 shares of the company’s stock, valued at approximately $1,019,721.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephanie A. Lundquist sold 3,000 shares of Target stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $78.08, for a total transaction of $234,240.00. Following the sale, the insider now directly owns 16,906 shares of the company’s stock, valued at $1,320,020.48. The disclosure for this sale can be found here. Insiders have sold a total of 16,262 shares of company stock valued at $1,185,484 over the last ninety days. 0.20% of the stock is currently owned by insiders.
Target (NYSE:TGT) last posted its quarterly earnings data on Tuesday, March 6th. The retailer reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.02). Target had a return on equity of 23.04% and a net margin of 4.08%. The company had revenue of $22.77 billion for the quarter, compared to the consensus estimate of $22.56 billion. During the same period in the prior year, the firm posted $1.45 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. research analysts predict that Target Co. will post 5.29 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Tuesday, February 20th. Target’s dividend payout ratio is currently 53.68%.
TGT has been the subject of a number of recent research reports. ValuEngine upgraded shares of Target from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Moffett Nathanson initiated coverage on shares of Target in a research note on Monday, December 4th. They issued a “neutral” rating for the company. Vetr lowered shares of Target from a “hold” rating to a “sell” rating and set a $73.66 price objective for the company. in a research note on Thursday, February 15th. Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 price objective on shares of Target in a research note on Thursday, January 11th. Finally, Telsey Advisory Group lifted their price objective on shares of Target from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $73.97.
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Target Company Profile
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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