Hudson’s Bay (HBC) Receives Consensus Rating of “Hold” from Analysts

Shares of Hudson’s Bay (TSE:HBC) have earned a consensus rating of “Hold” from the nine analysts that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$10.50.

Several brokerages have recently weighed in on HBC. TD Securities cut their price objective on shares of Hudson’s Bay from C$12.50 to C$10.00 and set a “hold” rating on the stock in a report on Thursday, March 29th. CIBC cut their price objective on shares of Hudson’s Bay from C$12.00 to C$10.00 in a report on Thursday, March 29th. Royal Bank of Canada cut their price objective on shares of Hudson’s Bay from C$11.00 to C$10.00 and set a “sector perform” rating on the stock in a report on Thursday, March 29th. Scotiabank cut their price objective on shares of Hudson’s Bay from C$12.00 to C$10.00 and set a “sector perform” rating on the stock in a report on Thursday, March 29th. Finally, National Bank Financial dropped their target price on shares of Hudson’s Bay from C$11.00 to C$10.00 and set a “sector perform” rating for the company in a research report on Thursday, March 29th.

In related news, insider L&T B. (Cayman) Inc. sold 400,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of C$11.01, for a total transaction of C$4,404,000.00. Also, Director Robert C. Baker sold 13,400 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of C$11.30, for a total transaction of C$151,420.00. In the last three months, insiders have sold 604,700 shares of company stock valued at $6,755,370.

Shares of HBC stock traded up C$0.01 during trading hours on Friday, hitting C$9.20. 307,100 shares of the company were exchanged, compared to its average volume of 303,426. Hudson’s Bay has a 1 year low of C$8.02 and a 1 year high of C$13.43.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Friday, March 30th were given a dividend of $0.013 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Wednesday, March 28th.

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Hudson’s Bay Company Profile

Hudson's Bay Company owns and operates department stores in Canada, the United States, and Europe. Its stores offer fashion apparel, accessories, cosmetics, and home products. The company operates its stores under the Hudson's Bay, Lord & Taylor, Saks Fifth Avenue, Saks Fifth Avenue OFF 5TH, Find @ Lord & Taylor, Gilt, Home Outfitters, GALERIA Kaufhof, Galeria Inno, and Sportarena banners.

Analyst Recommendations for Hudson`s Bay (TSE:HBC)

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