iA Global Asset Management Inc. Acquires 112,643 Shares of Target Co. (NYSE:TGT)

iA Global Asset Management Inc. raised its stake in shares of Target Co. (NYSE:TGT) by 285.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 152,169 shares of the retailer’s stock after purchasing an additional 112,643 shares during the period. iA Global Asset Management Inc.’s holdings in Target were worth $23,717,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGT. Hexagon Capital Partners LLC lifted its stake in Target by 17.7% in the second quarter. Hexagon Capital Partners LLC now owns 1,191 shares of the retailer’s stock worth $176,000 after purchasing an additional 179 shares during the last quarter. Austin Private Wealth LLC increased its stake in shares of Target by 13.8% in the second quarter. Austin Private Wealth LLC now owns 1,998 shares of the retailer’s stock worth $296,000 after buying an additional 242 shares during the period. MJP Associates Inc. ADV boosted its position in Target by 37.5% during the 2nd quarter. MJP Associates Inc. ADV now owns 3,966 shares of the retailer’s stock valued at $587,000 after buying an additional 1,081 shares during the period. Mechanics Bank Trust Department raised its stake in shares of Target by 4.5% during the second quarter. Mechanics Bank Trust Department now owns 16,482 shares of the retailer’s stock valued at $2,440,000 after acquiring an additional 710 shares during the last quarter. Finally, Czech National Bank raised its position in Target by 8.5% during the 2nd quarter. Czech National Bank now owns 88,158 shares of the retailer’s stock valued at $13,051,000 after purchasing an additional 6,928 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TGT shares. JPMorgan Chase & Co. decreased their price objective on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. StockNews.com downgraded Target from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. UBS Group raised their target price on Target from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Evercore ISI decreased their price objective on Target from $165.00 to $130.00 and set an “in-line” rating for the company in a report on Thursday, November 21st. Finally, BMO Capital Markets dropped their target price on shares of Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Target has an average rating of “Hold” and a consensus price target of $160.30.

Target Stock Up 2.5 %

Shares of NYSE TGT opened at $132.41 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. The firm’s 50-day moving average price is $146.84 and its 200-day moving average price is $147.78. The stock has a market capitalization of $60.67 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 2.13 and a beta of 1.17.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the company earned $2.10 earnings per share. On average, equities research analysts anticipate that Target Co. will post 8.6 EPS for the current fiscal year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 47.51%.

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.