Mackenzie Financial Corp Has $27.39 Million Position in Target Co. (NYSE:TGT)

Mackenzie Financial Corp lifted its position in shares of Target Co. (NYSE:TGT) by 28.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,328 shares of the retailer’s stock after buying an additional 42,822 shares during the period. Mackenzie Financial Corp’s holdings in Target were worth $27,391,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of TGT. Moneta Group Investment Advisors LLC boosted its position in shares of Target by 95,980.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,537,742 shares of the retailer’s stock worth $2,762,865,000 after buying an additional 18,518,448 shares during the period. Norges Bank acquired a new position in shares of Target during the fourth quarter worth about $725,870,000. International Assets Investment Management LLC boosted its position in shares of Target by 15,009.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,757,088 shares of the retailer’s stock worth $250,244,000 after buying an additional 1,745,459 shares during the period. Clearbridge Investments LLC boosted its position in shares of Target by 37,301.2% during the third quarter. Clearbridge Investments LLC now owns 1,698,764 shares of the retailer’s stock worth $187,832,000 after buying an additional 1,694,222 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Target by 252.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,166,161 shares of the retailer’s stock worth $358,782,000 after buying an additional 1,551,551 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Target Trading Up 0.7 %

Shares of NYSE:TGT opened at $164.47 on Thursday. The company has a market capitalization of $75.93 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.55 and a beta of 1.14. Target Co. has a 1 year low of $102.93 and a 1 year high of $181.86. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.91 and a quick ratio of 0.29. The business’s 50 day simple moving average is $162.87 and its 200 day simple moving average is $140.34.

Target (NYSE:TGT) last issued its earnings results on Tuesday, March 5th. The retailer reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.57. The firm had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $31.83 billion. Target had a return on equity of 33.41% and a net margin of 3.85%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. On average, research analysts anticipate that Target Co. will post 9.39 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, May 14th. Target’s dividend payout ratio is presently 49.27%.

Insider Buying and Selling at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total value of $7,538,400.00. Following the sale, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $167.52, for a total transaction of $7,538,400.00. Following the sale, the insider now owns 346,919 shares of the company’s stock, valued at approximately $58,115,870.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christina Hennington sold 4,600 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $170.88, for a total value of $786,048.00. Following the sale, the insider now directly owns 38,487 shares in the company, valued at approximately $6,576,658.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,600 shares of company stock valued at $8,819,598. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Target from $125.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Evercore ISI reduced their price target on Target from $183.00 to $180.00 and set an “in-line” rating for the company in a research report on Tuesday. Gordon Haskett increased their price target on Target from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Guggenheim increased their price target on Target from $160.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, The Goldman Sachs Group increased their price target on Target from $176.00 to $194.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Eleven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Target presently has a consensus rating of “Moderate Buy” and an average price target of $181.85.

Target Company 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.