CIBC Asset Management Inc Has $20.36 Million Holdings in Target Corporation (TGT)
CIBC Asset Management Inc trimmed its stake in Target Corporation (NYSE:TGT) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 345,031 shares of the retailer’s stock after selling 3,582 shares during the quarter. CIBC Asset Management Inc owned approximately 0.06% of Target Corporation worth $20,360,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of TGT. ARGI Investment Services LLC bought a new position in Target Corporation in the first quarter valued at approximately $1,402,000. Schafer Cullen Capital Management Inc. boosted its stake in shares of Target Corporation by 155.1% during the 1st quarter. Schafer Cullen Capital Management Inc. now owns 10,100 shares of the retailer’s stock worth $557,000 after acquiring an additional 6,140 shares during the period. Oarsman Capital Inc. boosted its stake in shares of Target Corporation by 1.2% during the 1st quarter. Oarsman Capital Inc. now owns 8,538 shares of the retailer’s stock worth $471,000 after acquiring an additional 100 shares during the period. Boston Private Wealth LLC boosted its stake in shares of Target Corporation by 11.7% during the 1st quarter. Boston Private Wealth LLC now owns 51,170 shares of the retailer’s stock worth $2,824,000 after acquiring an additional 5,358 shares during the period. Finally, Summit Financial Wealth Advisors LLC boosted its stake in shares of Target Corporation by 1.5% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 20,364 shares of the retailer’s stock worth $1,124,000 after acquiring an additional 292 shares during the period. Hedge funds and other institutional investors own 83.51% of the company’s stock.
Several research analysts have recently commented on the company. Vetr upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $67.50 target price for the company in a research note on Monday. BidaskClub downgraded Target Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Stifel Nicolaus reiterated a “hold” rating and set a $60.00 target price (up from $58.00) on shares of Target Corporation in a research note on Friday, August 18th. Gordon Haskett upgraded Target Corporation from a “sell” rating to a “hold” rating and lifted their target price for the stock from $47.00 to $58.00 in a research note on Wednesday, August 16th. Finally, TheStreet raised Target Corporation from a “c+” rating to a “b” rating in a report on Thursday, September 28th. Five equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company. Target Corporation presently has an average rating of “Hold” and a consensus target price of $64.06.
In other Target Corporation news, insider Hourigan Rice Jacqueline sold 4,679 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $59.37, for a total value of $277,792.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.
Shares of Target Corporation (NYSE TGT) traded down $1.00 during mid-day trading on Tuesday, reaching $60.40. The company had a trading volume of 6,608,700 shares, compared to its average volume of 7,166,543. Target Corporation has a twelve month low of $48.56 and a twelve month high of $79.33. The company has a market cap of $33,538.63, a price-to-earnings ratio of 12.45, a P/E/G ratio of 2.90 and a beta of 0.63. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.26.
Target Corporation (NYSE:TGT) last released its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The firm had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same quarter in the previous year, the company posted $1.23 EPS. The business’s revenue was up 1.6% on a year-over-year basis. sell-side analysts anticipate that Target Corporation will post 4.51 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Wednesday, November 15th will be given a $0.62 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.11%. Target Corporation’s dividend payout ratio (DPR) is presently 50.00%.
Target Corporation 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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