iA Global Asset Management Inc. Sells 12,169 Shares of Target Co. (NYSE:TGT)

iA Global Asset Management Inc. trimmed its position in Target Co. (NYSE:TGT) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 140,000 shares of the retailer’s stock after selling 12,169 shares during the quarter. iA Global Asset Management Inc.’s holdings in Target were worth $18,925,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. TAP Consulting LLC raised its holdings in shares of Target by 4.4% in the 4th quarter. TAP Consulting LLC now owns 16,099 shares of the retailer’s stock valued at $2,176,000 after purchasing an additional 681 shares during the period. First National Bank of Hutchinson raised its holdings in Target by 4.1% in the 4th quarter. First National Bank of Hutchinson now owns 5,631 shares of the retailer’s stock valued at $761,000 after acquiring an additional 221 shares during the period. Royal London Asset Management Ltd. raised its holdings in Target by 1.4% in the 4th quarter. Royal London Asset Management Ltd. now owns 196,592 shares of the retailer’s stock valued at $26,575,000 after acquiring an additional 2,659 shares during the period. West Tower Group LLC bought a new position in Target in the 4th quarter valued at about $460,000. Finally, Trillium Asset Management LLC raised its holdings in Target by 4.6% in the 4th quarter. Trillium Asset Management LLC now owns 313,231 shares of the retailer’s stock valued at $42,343,000 after acquiring an additional 13,890 shares during the period. 79.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TGT. Sanford C. Bernstein reissued a “market perform” rating on shares of Target in a report on Wednesday, March 5th. HSBC lowered shares of Target from a “buy” rating to a “hold” rating and set a $138.00 target price on the stock. in a research report on Wednesday, November 20th. Guggenheim increased their target price on shares of Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Daiwa Capital Markets lowered shares of Target from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $170.00 to $130.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company decreased their target price on shares of Target from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $145.87.

Target Price Performance

Shares of NYSE:TGT opened at $104.81 on Thursday. The firm has a market cap of $47.75 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The firm’s fifty day moving average is $127.31 and its 200-day moving average is $138.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a 52 week low of $103.46 and a 52 week high of $181.86.

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

Target Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $4.48 annualized dividend and a yield of 4.27%. Target’s payout ratio is 50.56%.

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.