Meyer Handelman Co. Sells 1,567 Shares of Target Co. (NYSE:TGT)

Meyer Handelman Co. reduced its position in shares of Target Co. (NYSE:TGT) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,435 shares of the retailer’s stock after selling 1,567 shares during the period. Meyer Handelman Co.’s holdings in Target were worth $6,818,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in Target by 44.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,078 shares of the retailer’s stock worth $686,000 after acquiring an additional 1,554 shares during the last quarter. Park Avenue Securities LLC grew its holdings in shares of Target by 26.1% during the fourth quarter. Park Avenue Securities LLC now owns 13,351 shares of the retailer’s stock worth $1,805,000 after purchasing an additional 2,766 shares in the last quarter. Kathmere Capital Management LLC increased its position in shares of Target by 3.0% in the fourth quarter. Kathmere Capital Management LLC now owns 2,541 shares of the retailer’s stock worth $343,000 after purchasing an additional 73 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC raised its stake in Target by 11.6% in the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 1,937 shares of the retailer’s stock valued at $262,000 after purchasing an additional 201 shares in the last quarter. Finally, Pines Wealth Management LLC bought a new stake in Target during the fourth quarter valued at approximately $317,000. Institutional investors own 79.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Stifel Nicolaus increased their price target on shares of Target from $137.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Melius Research initiated coverage on Target in a research note on Monday, September 23rd. They issued a “buy” rating and a $180.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $165.00 price target on shares of Target in a research note on Monday, November 25th. Piper Sandler dropped their target price on Target from $156.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, November 21st. Finally, BMO Capital Markets reduced their price target on shares of Target from $160.00 to $120.00 and set a “market perform” rating on the stock in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Target currently has a consensus rating of “Hold” and a consensus target price of $160.57.

Target Stock Performance

NYSE:TGT opened at $136.18 on Wednesday. Target Co. has a twelve month low of $120.21 and a twelve month high of $181.86. 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 firm’s fifty day simple moving average is $137.06 and its 200 day simple moving average is $145.39. The stock has a market cap of $62.40 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 2.21 and a beta of 1.16.

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

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.29%. Target’s dividend payout ratio (DPR) is 47.51%.

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.