3,830 Shares in Target Co. (NYSE:TGT) Acquired by Berkshire Asset Management LLC PA

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in Target in the second quarter valued at $25,000. Slocum Gordon & Co LLP acquired a new position in Target in the second quarter valued at about $28,000. Hobbs Group Advisors LLC purchased a new position in Target during the second quarter worth about $31,000. Wolff Wiese Magana LLC increased its holdings in Target by 156.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock valued at $34,000 after purchasing an additional 133 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Target during the third quarter worth $36,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity at Target

In other news, insider Richard H. Gomez sold 6,348 shares of the 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 transaction, the insider now directly owns 123,551 shares in the company, valued at approximately $19,418,510.67. This represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by company insiders.

Target Stock Performance

Target stock opened at $132.31 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.25 and a current ratio of 0.94. Target Co. has a one year low of $120.21 and a one year high of $181.86. The stock’s 50 day moving average price is $148.86 and its 200 day moving average price is $148.45. The firm 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.

Target (NYSE:TGT) last announced 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). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. During the same quarter last year, the company posted $2.10 earnings per share. Target’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts expect that Target Co. will post 8.6 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is 47.51%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Target from $180.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lowered their target price on shares of Target from $167.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, November 21st. Guggenheim decreased their target price on Target from $180.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lowered shares of Target from a “buy” rating to a “hold” rating and dropped their price objective for the company from $184.00 to $108.00 in a research note on Wednesday, November 20th. Finally, UBS Group boosted their target price on Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.