Intact Investment Management Inc. Lowers Holdings in Target Co. (NYSE:TGT)

Intact Investment Management Inc. decreased its position in Target Co. (NYSE:TGT) by 54.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,198 shares of the retailer’s stock after selling 21,700 shares during the period. Intact Investment Management Inc.’s holdings in Target were worth $2,460,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TGT. Impax Asset Management Group plc boosted its holdings in shares of Target by 8.6% in the third quarter. Impax Asset Management Group plc now owns 241,447 shares of the retailer’s stock valued at $37,632,000 after purchasing an additional 19,095 shares during the period. Harbour Investments Inc. raised its stake in Target by 2.9% in the third quarter. Harbour Investments Inc. now owns 7,345 shares of the retailer’s stock worth $1,145,000 after buying an additional 205 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in Target by 5.8% in the third quarter. Aptus Capital Advisors LLC now owns 7,738 shares of the retailer’s stock worth $1,206,000 after buying an additional 427 shares in the last quarter. Metis Global Partners LLC raised its stake in Target by 2.1% in the third quarter. Metis Global Partners LLC now owns 19,515 shares of the retailer’s stock worth $3,042,000 after buying an additional 406 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in Target by 6.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,710 shares of the retailer’s stock worth $1,981,000 after buying an additional 716 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

NYSE:TGT opened at $104.71 on Friday. Target Co. has a one year low of $103.46 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The firm has a market cap of $47.98 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.94 and a beta of 1.18. The firm’s fifty day moving average is $129.35 and its two-hundred day moving average is $139.88.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating the consensus estimate of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The company had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Research analysts expect that Target Co. will post 8.69 EPS for the current year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.28%. The ex-dividend date is Wednesday, May 14th. Target’s payout ratio is 50.56%.

Wall Street Analyst Weigh In

TGT has been the subject of a number of recent research reports. Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on shares of Target from $146.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Roth Capital set a $122.00 price objective on shares of Target in a research note on Wednesday, March 5th. Hsbc Global Res downgraded Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company reduced their price target on Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $145.87.

About Target

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.