iA Global Asset Management Inc. Has $18.93 Million Stake in Target Co. (NYSE:TGT)

iA Global Asset Management Inc. decreased its position in Target Co. (NYSE:TGT) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,000 shares of the retailer’s stock after selling 12,169 shares during the period. iA Global Asset Management Inc.’s holdings in Target were worth $18,925,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans raised its holdings in shares of Target by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after purchasing an additional 490 shares during the period. Aviance Capital Partners LLC raised its holdings in shares of Target by 11.6% during the third quarter. Aviance Capital Partners LLC now owns 2,333 shares of the retailer’s stock valued at $364,000 after purchasing an additional 242 shares during the period. Pathstone Holdings LLC raised its holdings in shares of Target by 0.4% during the third quarter. Pathstone Holdings LLC now owns 118,798 shares of the retailer’s stock valued at $18,516,000 after purchasing an additional 424 shares during the period. Prospera Financial Services Inc raised its holdings in shares of Target by 8.9% during the third quarter. Prospera Financial Services Inc now owns 28,250 shares of the retailer’s stock valued at $4,405,000 after purchasing an additional 2,300 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its holdings in shares of Target by 25.1% during the third quarter. Fifth Third Wealth Advisors LLC now owns 11,090 shares of the retailer’s stock valued at $1,729,000 after purchasing an additional 2,222 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

Target Stock Performance

Shares of TGT stock opened at $104.81 on Thursday. The stock has a market capitalization of $47.75 billion, a P/E ratio of 11.11, a PEG ratio of 1.94 and a beta of 1.18. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. The firm’s 50 day moving average is $127.31 and its 200 day moving average is $138.71. Target Co. has a 12 month low of $103.46 and a 12 month high of $181.86.

Target (NYSE:TGT) last announced its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $30.83 billion. On average, sell-side analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Roth Capital set a $122.00 price objective on shares of Target in a report on Wednesday, March 5th. KGI Securities set a $132.00 target price on shares of Target in a research report on Wednesday, March 5th. Wells Fargo & Company decreased their target price on shares of Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. TD Cowen decreased their target price on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Finally, Truist Financial decreased their target price on shares of Target from $134.00 to $124.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.