Beacon Financial Group Lowers Holdings in Target Co. (NYSE:TGT)

Beacon Financial Group reduced its stake in Target Co. (NYSE:TGT) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,052 shares of the retailer’s stock after selling 182 shares during the period. Beacon Financial Group’s holdings in Target were worth $277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Thrivent Financial for Lutherans grew its position in Target by 1.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock valued at $4,368,000 after purchasing an additional 490 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Target by 25.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after buying an additional 3,590 shares during the last quarter. Northeast Financial Group Inc. purchased a new stake in shares of Target during the fourth quarter valued at approximately $1,566,000. D.A. Davidson & CO. increased its position in shares of Target by 8.6% during the third quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after acquiring an additional 9,510 shares in the last quarter. Finally, Prana Capital Management LP raised its holdings in Target by 47.5% in the 3rd quarter. Prana Capital Management LP now owns 217,081 shares of the retailer’s stock worth $33,834,000 after acquiring an additional 69,885 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

NYSE:TGT opened at $127.50 on Thursday. The stock has a market capitalization of $58.42 billion, a P/E ratio of 13.52, a P/E/G ratio of 2.04 and a beta of 1.15. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86. The stock has a 50-day moving average price of $135.26 and a 200 day moving average price of $143.56.

Target (NYSE:TGT) last posted its 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 company had revenue of $25.23 billion for the quarter, compared to analysts’ expectations of $25.87 billion. Target had a net margin of 4.06% and a return on equity of 31.11%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $2.10 earnings per share. Equities research analysts forecast that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Wednesday, February 12th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Wednesday, February 12th. Target’s payout ratio is presently 47.51%.

Analysts Set New Price Targets

A number of analysts have commented on TGT shares. Stifel Nicolaus lifted their target price on Target from $137.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. reduced their price objective on Target from $167.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Daiwa America lowered Target from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein raised their price target on shares of Target from $139.00 to $142.00 and gave the company a “market perform” rating in a report on Tuesday, January 28th. Finally, Daiwa Capital Markets cut shares of Target from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $170.00 to $130.00 in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $157.70.

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.