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

Mackenzie Financial Corp boosted its stake in shares of Target Co. (NYSE:TGT) by 7.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 319,222 shares of the retailer’s stock after buying an additional 21,639 shares during the quarter. Mackenzie Financial Corp’s holdings in Target were worth $47,258,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TGT. Triad Wealth Partners LLC purchased a new stake in shares of Target during the second quarter valued at approximately $25,000. Ables Iannone Moore & Associates Inc. bought a new stake in Target during the 4th quarter valued at $28,000. Slocum Gordon & Co LLP purchased a new stake in Target during the 2nd quarter valued at $28,000. Scarborough Advisors LLC bought a new stake in Target in the 4th quarter worth $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Target in the second quarter valued at about $31,000. 79.73% of the stock is currently owned by institutional investors.

Target Trading Down 0.5 %

Shares of NYSE TGT opened at $155.18 on Friday. The firm’s 50 day moving average price is $148.75 and its 200-day moving average price is $154.47. Target Co. has a 52-week low of $102.93 and a 52-week high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90. The company has a market cap of $71.49 billion, a PE ratio of 17.42, a P/E/G ratio of 2.00 and a beta of 1.24.

Target (NYSE:TGT) last released its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.39. The business had revenue of $25.02 billion for the quarter, compared to analysts’ expectations of $25.19 billion. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.80 EPS. On average, equities research analysts expect that Target Co. will post 9.53 EPS for the current fiscal year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 annualized dividend and a yield of 2.89%. Target’s payout ratio is 50.28%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TGT. Royal Bank of Canada increased their target price on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Bank of America increased their price objective on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Stifel Nicolaus boosted their target price on Target from $147.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Citigroup raised their price target on Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $180.00 price objective on shares of Target in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.69.

Insiders Place Their Bets

In other news, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Matthew A. Liegel sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the sale, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The disclosure for this sale can be found here. 0.23% of the stock is owned by 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.