Meyer Handelman Co. Continues to Hold Stake in Target Corp. (TGT)
Meyer Handelman Co. held its position in Target Corp. (NYSE:TGT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,450 shares of the retailer’s stock at the end of the third quarter. Meyer Handelman Co.’s holdings in Target Corp. were worth $7,174,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in Target Corp. during the second quarter worth approximately $133,059,000. Massachusetts Financial Services Co. MA raised its position in Target Corp. by 13.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,035,746 shares of the retailer’s stock worth $910,156,000 after buying an additional 1,545,167 shares during the period. Emerald Acquisition Ltd. purchased a new position in Target Corp. during the second quarter worth approximately $95,095,000. Dodge & Cox raised its position in Target Corp. by 12.9% in the second quarter. Dodge & Cox now owns 11,757,005 shares of the retailer’s stock worth $820,874,000 after buying an additional 1,341,678 shares during the period. Finally, Cambiar Investors LLC purchased a new position in Target Corp. during the second quarter worth approximately $89,152,000. Institutional investors and hedge funds own 84.76% of the company’s stock.
Shares of Target Corp. (NYSE:TGT) traded down 1.13% on Monday, reaching $77.72. 5,402,093 shares of the company were exchanged. The firm’s 50 day moving average price is $70.18 and its 200 day moving average price is $70.66. Target Corp. has a 52 week low of $65.50 and a 52 week high of $84.14. The stock has a market capitalization of $43.81 billion, a price-to-earnings ratio of 13.83 and a beta of 0.59.
Target Corp. (NYSE:TGT) last posted its earnings results on Wednesday, November 16th. The retailer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. The business had revenue of $16.44 billion for the quarter, compared to the consensus estimate of $16.30 billion. Target Corp. had a net margin of 4.75% and a return on equity of 25.18%. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. Equities research analysts anticipate that Target Corp. will post $5.20 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 16th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Monday, November 14th. Target Corp.’s dividend payout ratio (DPR) is 42.93%.
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A number of research firms have recently issued reports on TGT. Vetr raised shares of Target Corp. from a “sell” rating to a “hold” rating and set a $77.48 price objective for the company in a report on Monday. Buckingham Research lifted their price objective on shares of Target Corp. to $85.00 in a report on Wednesday, November 16th. Telsey Advisory Group lifted their price objective on shares of Target Corp. from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, November 17th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $79.00 price objective on shares of Target Corp. in a report on Thursday, November 17th. Finally, Nomura reaffirmed a “hold” rating and set a $75.00 price objective on shares of Target Corp. in a report on Thursday, November 17th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $75.02.
In other Target Corp. news, Director Anne M. Mulcahy sold 3,957 shares of the firm’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $75.45, for a total transaction of $298,555.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.
Target Corp. Company Profile
Target Corporation offers everyday essentials and merchandise to its customers. The Company sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.
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