Meyer Handelman Co. Has $4.52 Million Stake in Target Co. (NYSE:TGT)

Meyer Handelman Co. trimmed its position in Target Co. (NYSE:TGT) by 14.0% in the first quarter, HoldingsChannel.com reports. The firm owned 43,350 shares of the retailer’s stock after selling 7,085 shares during the period. Meyer Handelman Co.’s holdings in Target were worth $4,524,000 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 $30,000. Hopwood Financial Services Inc. 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. OFI Invest Asset Management bought a new stake in Target in the fourth quarter valued at $36,000. Finally, Hager Investment Management Services LLC bought a new stake in Target in the fourth quarter valued at $39,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Target

In other Target 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 transaction, the insider now owns 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

Target Price Performance

Target stock opened at $93.97 on Friday. The business’s 50-day simple moving average is $96.26 and its 200 day simple moving average is $118.22. The stock has a market cap of $42.70 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 1.94 and a beta of 1.27. Target Co. has a 12-month low of $87.35 and a 12-month high of $167.40. 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 (NYSE:TGT) last posted its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 earnings per share (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 4.06% and a return on equity of 31.11%. Target’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 EPS. As a group, research analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.77%. The ex-dividend date is Wednesday, May 14th. Target’s dividend payout ratio is 49.23%.

Analyst Upgrades and Downgrades

TGT has been the topic of a number of analyst reports. Citigroup lowered their price target on Target from $97.00 to $94.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Stifel Nicolaus lowered their price target on Target from $130.00 to $120.00 and set a “hold” rating on the stock in a research report on Thursday, March 20th. Morgan Stanley lowered their price target on Target from $160.00 to $112.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. Oppenheimer lowered their price target on Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Wall Street Zen cut Target from a “buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, twenty-five have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $116.68.

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.