Beacon Investment Advisory Services Inc. Has $3.80 Million Stake in Target Co. (NYSE:TGT)

Beacon Investment Advisory Services Inc. lowered its position in Target Co. (NYSE:TGT) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,402 shares of the retailer’s stock after selling 170 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Target were worth $3,803,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its holdings in shares of Target by 550.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 22,818 shares of the retailer’s stock valued at $3,557,000 after purchasing an additional 19,312 shares during the period. Berkshire Asset Management LLC PA bought a new stake in Target in the third quarter valued at approximately $567,000. Paloma Partners Management Co raised its stake in Target by 8.7% in the third quarter. Paloma Partners Management Co now owns 30,000 shares of the retailer’s stock valued at $4,676,000 after buying an additional 2,400 shares during the period. Kestra Investment Management LLC lifted its position in shares of Target by 38.1% in the third quarter. Kestra Investment Management LLC now owns 7,234 shares of the retailer’s stock valued at $1,127,000 after buying an additional 1,994 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of Target during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insiders Place Their Bets

In other news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.15% of the company’s stock.

Target Price Performance

Shares of NYSE:TGT opened at $132.31 on Monday. The firm has a 50 day simple moving average of $148.86 and a 200 day simple moving average of $148.45. The company has a market cap of $60.95 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 2.17 and a beta of 1.24. Target Co. has a one year low of $120.21 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $2.10 earnings per share. Research analysts predict that Target Co. will post 8.6 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.39%. Target’s dividend payout ratio (DPR) is 47.51%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TGT shares. Telsey Advisory Group restated an “outperform” rating and issued a $195.00 price target on shares of Target in a research note on Wednesday, November 20th. Melius Research initiated coverage on shares of Target in a research note on Monday, September 23rd. They set a “buy” rating and a $180.00 target price for the company. Truist Financial lifted their target price on shares of Target from $156.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Oppenheimer reiterated an “outperform” rating and issued a $165.00 price target on shares of Target in a research note on Monday, November 25th. Finally, Daiwa Capital Markets downgraded shares of Target from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $170.00 to $130.00 in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Target has an average rating of “Hold” and a consensus target price of $160.30.

About Target

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.