Meyer Handelman Co. Boosts Stake in Target Corporation (TGT)

Meyer Handelman Co. raised its stake in Target Corporation (NYSE:TGT) by 9.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,350 shares of the retailer’s stock after buying an additional 10,000 shares during the period. Meyer Handelman Co.’s holdings in Target Corporation were worth $5,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tompkins Financial Corp boosted its stake in shares of Target Corporation by 84.0% in the first quarter. Tompkins Financial Corp now owns 1,711 shares of the retailer’s stock worth $141,000 after buying an additional 781 shares during the period. Cribstone Capital Management LLC boosted its stake in shares of Target Corporation by 114.2% in the first quarter. Cribstone Capital Management LLC now owns 1,906 shares of the retailer’s stock worth $101,000 after buying an additional 1,016 shares during the period. Reilly Financial Advisors LLC boosted its stake in shares of Target Corporation by 77.6% in the first quarter. Reilly Financial Advisors LLC now owns 2,000 shares of the retailer’s stock worth $110,000 after buying an additional 874 shares during the period. Pinnacle Bank purchased a new stake in shares of Target Corporation during the first quarter worth about $123,000. Finally, Peoples Financial Services CORP. boosted its stake in shares of Target Corporation by 116.7% in the first quarter. Peoples Financial Services CORP. now owns 2,275 shares of the retailer’s stock worth $125,000 after buying an additional 1,225 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Shares of Target Corporation (NYSE:TGT) traded down 0.18% during midday trading on Friday, reaching $56.02. 1,633,902 shares of the company were exchanged. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The firm has a 50-day moving average of $54.58 and a 200 day moving average of $56.22. The firm has a market capitalization of $30.60 billion, a P/E ratio of 11.32 and a beta of 0.61.

Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The business had revenue of $16.43 billion for the quarter, compared to analysts’ expectations of $16.30 billion. Target Corporation had a net margin of 3.99% and a return on equity of 25.06%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 earnings per share. On average, equities research analysts expect that Target Corporation will post $4.44 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.42%. The ex-dividend date is Monday, August 14th. This is a boost from Target Corporation’s previous quarterly dividend of $0.60. Target Corporation’s dividend payout ratio is currently 50.00%.

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TGT has been the subject of a number of analyst reports. BidaskClub cut shares of Target Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. ValuEngine cut shares of Target Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Gordon Haskett initiated coverage on shares of Target Corporation in a research note on Tuesday, May 9th. They issued a “sell” rating and a $47.00 price objective for the company. Vetr raised shares of Target Corporation from a “hold” rating to a “buy” rating and set a $61.86 price objective for the company in a research note on Wednesday, May 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $59.00 target price on shares of Target Corporation in a research note on Tuesday, June 20th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the company’s stock. Target Corporation presently has an average rating of “Hold” and an average price target of $61.56.

In other news, insider Robert M. Harrison sold 2,639 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $52.05, for a total transaction of $137,359.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

Target Corporation Company Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

Institutional Ownership by Quarter for Target Corporation (NYSE:TGT)

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