Meyer Handelman Co. Sells 7,085 Shares of Target Co. (NYSE:TGT)

Meyer Handelman Co. trimmed its stake in Target Co. (NYSE:TGT - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Target by 101.3% in the 4th quarter. Brighton Jones LLC now owns 6,080 shares of the retailer's stock worth $822,000 after purchasing an additional 3,059 shares during the period. Blue Trust Inc. lifted its holdings in Target by 18.1% during the fourth quarter. Blue Trust Inc. now owns 3,984 shares of the retailer's stock worth $539,000 after buying an additional 610 shares during the period. SteelPeak Wealth LLC boosted its position in Target by 3.2% during the 4th quarter. SteelPeak Wealth LLC now owns 3,317 shares of the retailer's stock valued at $448,000 after acquiring an additional 103 shares in the last quarter. Strategic Blueprint LLC increased its holdings in shares of Target by 74.6% in the 4th quarter. Strategic Blueprint LLC now owns 2,716 shares of the retailer's stock valued at $367,000 after acquiring an additional 1,160 shares during the period. Finally, Highland Capital Management LLC bought a new position in shares of Target in the 4th quarter worth $479,000. 79.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Target from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. UBS Group decreased their price target on shares of Target from $170.00 to $155.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada dropped their price objective on shares of Target from $112.00 to $103.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. Jefferies Financial Group cut their target price on Target from $165.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Finally, Roth Capital set a $122.00 price target on Target in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $116.70.

Target Stock Performance

TGT stock traded down $1.03 during midday trading on Wednesday, reaching $94.75. The company had a trading volume of 1,772,845 shares, compared to its average volume of 7,437,411. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average price of $95.79 and a 200 day moving average price of $117.16. The firm has a market capitalization of $43.05 billion, a PE ratio of 10.05, a P/E/G ratio of 1.94 and a beta of 1.27. Target Co. has a fifty-two week low of $87.35 and a fifty-two week high of $167.40.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.65 by ($0.35). The firm had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm's revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $2.03 EPS. Analysts anticipate that Target Co. will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.73%. The ex-dividend date was Wednesday, May 14th. Target's dividend payout ratio (DPR) is presently 49.23%.

Insider Activity at Target

In related news, insider Brian C. Cornell sold 45,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction 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. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.15% 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.