Grimes Company Lowers stake in Target Corporation (TGT)

Target Corporation (TGT) : Grimes Company reduced its stake in Target Corporation by 2.46% during the most recent quarter end. The investment management company now holds a total of 93,882 shares of Target Corporation which is valued at $7,463,619 after selling 2,363 shares in Target Corporation , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Target Corporation makes up approximately 0.97% of Grimes Company’s portfolio.

Target Corporation opened for trading at $79.45 and hit $80.16 on the upside on Monday, eventually ending the session at $80.12, with a gain of 0.78% or 0.62 points. The heightened volatility saw the trading volume jump to 48,91,878 shares. Company has a market cap of $48,071 M.

Other Hedge Funds, Including , Delta Asset Managementtn reduced its stake in TGT by selling 100 shares or 18.52% in the most recent quarter. The Hedge Fund company now holds 440 shares of TGT which is valued at $34,980. Target Corporation makes up approx 0.01% of Delta Asset Managementtn’s portfolio. Quantres Asset Management Ltd added TGT to its portfolio by purchasing 3,000 company shares during the most recent quarter which is valued at $246,990. Target Corporation makes up approx 0.23% of Quantres Asset Management Ltd’s portfolio.Van Cleef Asset Managementinc boosted its stake in TGT in the latest quarter, The investment management firm added 1,275 additional shares and now holds a total of 58,339 shares of Target Corporation which is valued at $4,803,050. Target Corporation makes up approx 1.68% of Van Cleef Asset Managementinc’s portfolio.Osborn Rohs Williams Donohoe Ltd boosted its stake in TGT in the latest quarter, The investment management firm added 949 additional shares and now holds a total of 61,370 shares of Target Corporation which is valued at $5,069,162. Target Corporation makes up approx 1.00% of Osborn Rohs Williams Donohoe Ltd’s portfolio.Central Trust Co boosted its stake in TGT in the latest quarter, The investment management firm added 5,346 additional shares and now holds a total of 75,097 shares of Target Corporation which is valued at $6,203,012. Target Corporation makes up approx 0.48% of Central Trust Co’s portfolio.

On the company’s financial health, Target Corporation reported $1.52 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 24, 2016. Analyst had a consensus of $1.54. The company had revenue of $21626.00 million for the quarter, compared to analysts expectations of $21647.98 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.50 EPS.

Investors should note that on Mar 10, 2016, Target Corporation announced a cash dividend of $0.5600. The company’s management has announced May 16, 2016 as the ex-dividend date and fixed the record date on May 18, 2016. The payable date has been fixed on Jun 10, 2016.

Many Wall Street Analysts have commented on Target Corporation. Shares were Downgraded by Barclays on Mar 31, 2016 to ” Underweight” and Lowered the Price Target to $ 70 from a previous price target of $90 .Company shares were Reiterated by MKM Partners on Feb 25, 2016 to “Neutral”, Firm has raised the Price Target to $ 81 from a previous price target of $70 .Shares were Reiterated by Piper Jaffray on Feb 4, 2016 to “Overweight” and Lowered the Price Target to $ 84 from a previous price target of $86 .

Target Corporation is engaged in providing everyday essentials and fashionable and differentiated merchandise at discounted prices. The Company offers its products through stores online or through mobile devices. The Company sells an assortment of general merchandise and food through its store and digital channels. Its general merchandise stores offer an edited food assortment including perishables dry grocery dairy and frozen items. Its urban format stores CityTarget and TargetExpress offer edited general merchandise and food assortments. Its digital channels include an assortment of general merchandise including various items found in its stores along with a complementary assortment such as additional sizes and colors sold online. The Company’s brands include Archer Farms Simply Balanced Boots & Barkley Circo Embark Gilligan & O’Malley Market Pantry Merona Room Essentials Smith & Hawken Spritz and Sutton & Dodge.

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