Beacon Investment Advisory Services Inc. Has $3.73 Million Stock Holdings in Target Corporation (NYSE:TGT)

Beacon Investment Advisory Services Inc. grew its holdings in Target Corporation (NYSE:TGT - Free Report) by 50.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,698 shares of the retailer's stock after acquiring an additional 11,962 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in Target were worth $3,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new position in shares of Target in the fourth quarter valued at $29,000. Legacy Investment Solutions LLC raised its stake in shares of Target by 47.5% in the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after purchasing an additional 85 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Target in the fourth quarter valued at $40,000. Atwood & Palmer Inc. raised its stake in shares of Target by 951.4% in the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer's stock valued at $41,000 after purchasing an additional 352 shares in the last quarter. Finally, Abound Financial LLC acquired a new position in shares of Target in the first quarter valued at $43,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TGT. Barclays reissued an "underweight" rating and set a $91.00 price objective on shares of Target in a report on Monday. Robert W. Baird set a $100.00 price objective on Target in a report on Thursday, May 22nd. Truist Financial lifted their price objective on Target from $82.00 to $90.00 and gave the company a "hold" rating in a report on Thursday, May 22nd. Wedbush reissued an "outperform" rating on shares of Target in a report on Thursday, July 17th. Finally, Cfra Research cut Target from a "moderate buy" rating to a "hold" rating in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, twenty-four have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Target has an average rating of "Hold" and a consensus target price of $115.65.

Target Price Performance

Shares of TGT stock traded up $0.21 on Friday, hitting $106.03. 3,467,967 shares of the company's stock were exchanged, compared to its average volume of 7,076,611. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.94 and a quick ratio of 0.25. Target Corporation has a 12 month low of $87.35 and a 12 month high of $167.40. The stock has a market cap of $48.18 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.22. The company has a 50 day moving average of $99.07 and a 200 day moving average of $108.82.

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

Target Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Wednesday, August 13th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 annualized dividend and a dividend yield of 4.23%. Target's payout ratio is 49.23%.

Insider Buying and Selling at Target

In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $96.18, for a total value of $4,328,100.00. Following the completion of the sale, the insider owned 246,453 shares of the company's stock, valued at approximately $23,703,849.54. This represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

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.