Beacon Financial Advisory LLC Has $584,000 Position in Target Corporation (NYSE:TGT)

Beacon Financial Advisory LLC increased its holdings in shares of Target Corporation (NYSE:TGT) by 24.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,591 shares of the retailer’s stock after purchasing an additional 1,104 shares during the period. Beacon Financial Advisory LLC’s holdings in Target were worth $584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hedges Asset Management LLC lifted its position in Target by 50.4% in the 1st quarter. Hedges Asset Management LLC now owns 10,600 shares of the retailer’s stock valued at $1,106,000 after acquiring an additional 3,550 shares in the last quarter. Avory & Company LLC bought a new position in Target during the 1st quarter worth about $217,000. Perpetual Ltd raised its stake in shares of Target by 92.1% in the 1st quarter. Perpetual Ltd now owns 9,889 shares of the retailer’s stock valued at $1,032,000 after purchasing an additional 4,741 shares during the period. HighMark Wealth Management LLC lifted its holdings in shares of Target by 69.3% in the first quarter. HighMark Wealth Management LLC now owns 611 shares of the retailer’s stock valued at $64,000 after purchasing an additional 250 shares in the last quarter. Finally, Sabal Trust CO lifted its holdings in shares of Target by 28.0% in the first quarter. Sabal Trust CO now owns 9,016 shares of the retailer’s stock valued at $941,000 after purchasing an additional 1,972 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the transaction, the insider now directly owns 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. This trade represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TGT has been the topic of a number of recent research reports. Cfra Research lowered Target from a “moderate buy” rating to a “hold” rating in a research report on Thursday, April 17th. Wells Fargo & Company decreased their price target on shares of Target from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. KGI Securities set a $132.00 price objective on shares of Target in a report on Wednesday, March 5th. Piper Sandler set a $94.00 target price on shares of Target and gave the stock a “neutral” rating in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada decreased their target price on shares of Target from $112.00 to $103.00 and set an “outperform” rating for the company in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $116.70.

Target Stock Performance

NYSE TGT opened at $97.64 on Friday. The stock has a market cap of $44.36 billion, a PE ratio of 10.73, a P/E/G ratio of 2.78 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. The firm has a 50-day moving average of $96.04 and a 200-day moving average of $113.06. Target Corporation has a 52-week low of $87.35 and a 52-week high of $167.40.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The company had revenue of $24.20 billion during the quarter, compared to the consensus estimate of $24.54 billion. During the same period in the prior year, the company earned $2.03 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a yield of 4.59%. Target’s payout ratio is currently 49.23%.

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.