iA Global Asset Management Inc. Has $13.81 Million Position in Target Corporation $TGT

iA Global Asset Management Inc. reduced its stake in shares of Target Corporation (NYSE:TGT) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,000 shares of the retailer’s stock after selling 11,345 shares during the quarter. iA Global Asset Management Inc.’s holdings in Target were worth $13,811,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Kozak & Associates Inc. raised its position in Target by 2,530.0% in the 2nd quarter. Kozak & Associates Inc. now owns 263 shares of the retailer’s stock valued at $27,000 after purchasing an additional 253 shares during the last quarter. Raleigh Capital Management Inc. raised its position in Target by 63.4% in the 2nd quarter. Raleigh Capital Management Inc. now owns 263 shares of the retailer’s stock valued at $26,000 after purchasing an additional 102 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new position in Target in the 2nd quarter valued at $29,000. WPG Advisers LLC bought a new position in Target in the 1st quarter valued at $32,000. Finally, Global Assets Advisory LLC bought a new position in Target in the 2nd quarter valued at $31,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on TGT shares. Barclays reiterated an “underweight” rating and issued a $91.00 price objective on shares of Target in a research report on Monday, July 21st. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective on shares of Target in a research report on Monday, October 27th. Evercore ISI cut their price objective on Target from $103.00 to $100.00 and set an “in-line” rating for the company in a research report on Tuesday, October 14th. Jefferies Financial Group dropped their target price on Target from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Finally, BTIG Research started coverage on Target in a research report on Tuesday, October 14th. They set a “neutral” rating for the company. Nine investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $109.00.

Target Price Performance

Shares of TGT stock opened at $92.92 on Friday. The stock has a 50-day moving average price of $91.37 and a 200 day moving average price of $96.43. The company has a quick ratio of 0.32, a current ratio of 0.99 and a debt-to-equity ratio of 0.99. The firm has a market cap of $42.22 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 2.74 and a beta of 1.18. Target Corporation has a 12 month low of $85.36 and a 12 month high of $158.42.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.01. The firm had revenue of $24.99 billion during the quarter, compared to analyst estimates of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The company’s revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Research analysts expect that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $1.14 dividend. This is a boost from Target’s previous quarterly dividend of $1.12. This represents a $4.56 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Wednesday, November 12th. Target’s dividend payout ratio is currently 53.15%.

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.