Mackenzie Financial Corp Grows Stock Holdings in Target Co. (NYSE:TGT)

Mackenzie Financial Corp grew its holdings in shares of Target Co. (NYSE:TGT) by 28.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 192,328 shares of the retailer’s stock after purchasing an additional 42,822 shares during the period. Mackenzie Financial Corp’s holdings in Target were worth $27,391,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Tower View Wealth Management LLC lifted its holdings in shares of Target by 82.8% during the third quarter. Tower View Wealth Management LLC now owns 234 shares of the retailer’s stock valued at $26,000 after purchasing an additional 106 shares during the last quarter. First Capital Advisors Group LLC. purchased a new position in shares of Target during the second quarter valued at approximately $31,000. Penserra Capital Management LLC purchased a new position in Target in the 4th quarter worth approximately $35,000. Impact Partnership Wealth LLC raised its holdings in Target by 106.6% in the 3rd quarter. Impact Partnership Wealth LLC now owns 405 shares of the retailer’s stock worth $45,000 after acquiring an additional 209 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in Target in the 4th quarter worth approximately $45,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Target Trading Up 0.7 %

Shares of Target stock 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. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.91. The company has a fifty day moving average of $162.87 and a 200 day moving average of $140.34. Target Co. has a fifty-two week low of $102.93 and a fifty-two week high of $181.86.

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

Target Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on TGT. Jefferies Financial Group boosted their price objective on shares of Target from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Guggenheim boosted their price objective on shares of Target from $160.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Evercore ISI decreased their price objective on shares of Target from $183.00 to $180.00 and set an “in-line” rating for the company in a report on Tuesday. HSBC upgraded shares of Target from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $140.00 to $195.00 in a report on Wednesday, March 6th. Finally, Gordon Haskett lifted their target price on shares of Target from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.85.

Insiders Place Their Bets

In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were 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 in the company, valued at approximately $58,115,870.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Target news, insider Melissa K. Kremer sold 3,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $165.05, for a total value of $495,150.00. Following the sale, the insider now owns 30,527 shares in the company, valued at approximately $5,038,481.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the business’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 completion of the sale, the insider now owns 346,919 shares in the company, valued at approximately $58,115,870.88. The disclosure for this sale can be found here. Insiders have sold a total of 52,600 shares of company stock worth $8,819,598 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

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.