CIBC Asset Management Inc Increases Position in Target Co. (NYSE:TGT)

CIBC Asset Management Inc increased its stake in Target Co. (NYSE:TGT) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,888 shares of the retailer’s stock after purchasing an additional 1,643 shares during the quarter. CIBC Asset Management Inc’s holdings in Target were worth $10,934,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TGT. Cynosure Group LLC boosted its holdings in Target by 4.3% in the third quarter. Cynosure Group LLC now owns 1,590 shares of the retailer’s stock worth $248,000 after purchasing an additional 65 shares during the period. Financial Advocates Investment Management boosted its holdings in Target by 1.2% in the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock worth $894,000 after purchasing an additional 67 shares during the period. Hancock Whitney Corp boosted its holdings in Target by 3.3% in the third quarter. Hancock Whitney Corp now owns 2,156 shares of the retailer’s stock worth $336,000 after purchasing an additional 68 shares during the period. Eagle Bluffs Wealth Management LLC boosted its holdings in Target by 1.1% in the third quarter. Eagle Bluffs Wealth Management LLC now owns 6,818 shares of the retailer’s stock worth $1,063,000 after purchasing an additional 73 shares during the period. Finally, Proffitt & Goodson Inc. boosted its holdings in Target by 2.2% in the third quarter. Proffitt & Goodson Inc. now owns 3,460 shares of the retailer’s stock worth $539,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Price Performance

Shares of Target stock opened at $130.00 on Wednesday. The company’s 50-day moving average price is $134.96 and its two-hundred day moving average price is $142.99. 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 stock has a market cap of $59.57 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 2.04 and a beta of 1.15. Target Co. has a 52 week low of $120.21 and a 52 week high of $181.86.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The company had revenue of $25.23 billion for the quarter, compared to analyst estimates of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. Target’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.10 EPS. As a group, sell-side analysts anticipate that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $4.48 annualized dividend and a yield of 3.45%. Target’s payout ratio is presently 47.51%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Target from $137.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Telsey Advisory Group reissued an “outperform” rating and set a $150.00 price target on shares of Target in a report on Friday, January 17th. JPMorgan Chase & Co. reduced their price target on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Gordon Haskett downgraded shares of Target from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Roth Mkm reduced their price target on shares of Target from $157.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Target currently has a consensus rating of “Hold” and an average price target of $157.70.

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.