Berkshire Asset Management LLC PA Takes $567,000 Position in Target Co. (NYSE:TGT)

Berkshire Asset Management LLC PA bought a new stake in shares of Target Co. (NYSE:TGT) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,830 shares of the retailer’s stock, valued at approximately $567,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TGT. Thrivent Financial for Lutherans boosted its position in shares of 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 acquiring an additional 490 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Target by 8.6% during the 3rd quarter. D.A. Davidson & CO. now owns 119,458 shares of the retailer’s stock valued at $18,619,000 after buying an additional 9,510 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new position in Target in the third quarter worth about $967,000. TAP Consulting LLC bought a new stake in shares of Target in the 3rd quarter valued at approximately $2,403,000. Finally, Olstein Capital Management L.P. boosted its holdings in shares of Target by 8.7% in the 3rd quarter. Olstein Capital Management L.P. now owns 50,000 shares of the retailer’s stock worth $7,793,000 after purchasing an additional 4,000 shares during the period. 79.73% of the stock is currently owned by institutional investors.

Insider Activity

In other Target news, insider Richard H. Gomez sold 6,348 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was 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 directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Target Stock Performance

Shares of NYSE TGT opened at $132.31 on Monday. The company has a market capitalization of $60.95 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 2.17 and a beta of 1.24. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. The company’s fifty day moving average price is $148.86 and its 200 day moving average price is $148.45. Target Co. has a 1 year low of $120.21 and a 1 year high of $181.86.

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

Target Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TGT shares. Deutsche Bank Aktiengesellschaft cut shares of Target from a “buy” rating to a “hold” rating and cut their price objective for the company from $184.00 to $108.00 in a research report on Wednesday, November 20th. Sanford C. Bernstein initiated coverage on Target in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price target on the stock. Telsey Advisory Group restated an “outperform” rating and set a $195.00 price objective on shares of Target in a report on Wednesday, November 20th. Bank of America dropped their price target on Target from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, Piper Sandler decreased their price objective on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Target presently has an average rating of “Hold” and an average target price of $160.30.

Target 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.