Cibc World Markets Corp Buys 23,068 Shares of Target Co. (NYSE:TGT)

Cibc World Markets Corp raised its stake in Target Co. (NYSE:TGT) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,749 shares of the retailer’s stock after purchasing an additional 23,068 shares during the period. Cibc World Markets Corp’s holdings in Target were worth $24,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after buying an additional 2,732,801 shares during the period. Raymond James Financial Inc. acquired a new position in Target in the 4th quarter valued at approximately $297,122,000. Two Sigma Advisers LP lifted its position in shares of Target by 173.2% in the 3rd quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after acquiring an additional 1,502,200 shares during the period. FMR LLC lifted its position in shares of Target by 11.7% in the 3rd quarter. FMR LLC now owns 9,980,381 shares of the retailer’s stock worth $1,555,542,000 after acquiring an additional 1,046,044 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its holdings in shares of Target by 773.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 832,766 shares of the retailer’s stock worth $129,795,000 after purchasing an additional 737,384 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on TGT. Wells Fargo & Company cut their target price on Target from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Truist Financial dropped their price objective on shares of Target from $134.00 to $124.00 and set a “hold” rating for the company in a research note 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. Piper Sandler dropped their price target on shares of Target from $132.00 to $124.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Finally, TD Cowen decreased their price objective on Target from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $145.87.

Target Stock Up 0.9 %

NYSE:TGT opened at $105.61 on Tuesday. The stock’s fifty day moving average price is $128.68 and its two-hundred day moving average price is $139.29. The company has a market cap of $48.11 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 1.94 and a beta of 1.18. Target Co. has a 52-week low of $103.46 and a 52-week 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.

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

Target Dividend Announcement

The firm also recently disclosed 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 4.24%. Target’s dividend payout ratio is currently 50.56%.

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.