Target Co. (NYSE:TGT) Position Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in shares of Target Co. (NYSE:TGT) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,888 shares of the retailer’s stock after acquiring an additional 1,643 shares during the quarter. CIBC Asset Management Inc’s holdings in Target were worth $10,934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its stake in Target by 1.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after acquiring an additional 490 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in Target by 25.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after acquiring an additional 3,590 shares in the last quarter. Northeast Financial Group Inc. purchased a new position in Target during the 4th quarter valued at about $1,566,000. D.A. Davidson & CO. grew its stake in Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after acquiring an additional 9,510 shares in the last quarter. Finally, Prana Capital Management LP grew its stake in Target by 47.5% during the 3rd quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock valued at $33,834,000 after acquiring an additional 69,885 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Stock Performance

Shares of NYSE TGT opened at $130.00 on Wednesday. The business has a fifty day simple moving average of $134.96 and a 200 day simple moving average of $142.99. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $59.57 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 2.04 and a beta of 1.15. Target Co. has a one year low of $120.21 and a one year high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to analyst estimates of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 earnings per share. Sell-side analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a $1.12 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.45%. Target’s payout ratio is 47.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. HSBC cut Target from a “buy” rating to a “hold” rating and set a $138.00 price target for the company. in a research note on Wednesday, November 20th. Truist Financial boosted their price target on Target from $129.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, January 17th. StockNews.com cut Target from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Daiwa Capital Markets cut Target from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. Finally, TD Cowen lowered their price target on Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Target has a consensus rating of “Hold” and a consensus price target of $157.70.

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.