Beacon Pointe Advisors LLC Sells 20,526 Shares of Target Co. (NYSE:TGT)

Beacon Pointe Advisors LLC lessened its stake in Target Co. (NYSE:TGT - Free Report) by 25.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,704 shares of the retailer's stock after selling 20,526 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Target were worth $7,936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in shares of Target during the 4th quarter worth about $30,000. Hopwood Financial Services Inc. acquired a new position in Target during the fourth quarter worth approximately $29,000. MCF Advisors LLC lifted its position in shares of Target by 175.3% in the fourth quarter. MCF Advisors LLC now owns 256 shares of the retailer's stock valued at $35,000 after buying an additional 163 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Target by 110.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 257 shares of the retailer's stock worth $35,000 after acquiring an additional 135 shares during the period. Finally, Legacy Investment Solutions LLC increased its holdings in shares of Target by 47.5% during the 4th quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock worth $35,000 after acquiring an additional 85 shares during the last quarter. 79.73% of the stock is owned by institutional investors.

Target Trading Up 1.4 %

Shares of TGT stock traded up $1.32 during trading hours on Friday, hitting $97.29. 5,291,595 shares of the company's stock traded hands, compared to its average volume of 5,751,010. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. Target Co. has a 12 month low of $87.35 and a 12 month high of $167.40. The stock has a market cap of $44.32 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The stock's 50 day simple moving average is $102.51 and its 200 day simple moving average is $125.39.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $2.24 by $0.17. The firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. On average, sell-side analysts anticipate that Target Co. will post 8.69 EPS for the current year.

Target Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Wednesday, May 14th. Target's dividend payout ratio (DPR) is presently 50.56%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TGT shares. Truist Financial decreased their price objective on shares of Target from $124.00 to $82.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Cfra Research downgraded shares of Target from a "moderate buy" rating to a "hold" rating in a research report on Thursday, April 17th. Robert W. Baird lowered Target from an "outperform" rating to a "neutral" rating and set a $110.00 target price on the stock. in a research note on Monday, April 7th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Target in a report on Wednesday, March 5th. Finally, Jefferies Financial Group dropped their target price on Target from $165.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Target currently has an average rating of "Hold" and a consensus price target of $132.37.

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.