Equity Investment Corpga Lowers stake in Target Corporation (TGT)

Target Corporation (TGT) : Equity Investment Corpga reduced its stake in Target Corporation by 13.96% during the most recent quarter end. The investment management company now holds a total of 1,700,926 shares of Target Corporation which is valued at $133,930,913 after selling 276,050 shares in Target Corporation , the firm said in a disclosure report filed with the SEC on May 2, 2016.Target Corporation makes up approximately 3.94% of Equity Investment Corpga’s portfolio.

Target Corporation opened for trading at $78.13 and hit $78.86 on the upside on Friday, eventually ending the session at $78.74, with a gain of 0.78% or 0.61 points. The heightened volatility saw the trading volume jump to 34,67,687 shares. Company has a market cap of $47,243 M.

Other Hedge Funds, Including , Cadence Capital Management reduced its stake in TGT by selling 10,286 shares or 7.42% in the most recent quarter. The Hedge Fund company now holds 128,417 shares of TGT which is valued at $10,111,555. Target Corporation makes up approx 0.71% of Cadence Capital Management’s portfolio. Asset Dedication sold out all of its stake in TGT during the most recent quarter. The investment firm sold 540 shares of TGT which is valued $42,930.Telemus Capital boosted its stake in TGT in the latest quarter, The investment management firm added 10,678 additional shares and now holds a total of 13,878 shares of Target Corporation which is valued at $1,103,301. Target Corporation makes up approx 0.18% of Telemus Capital’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.Profit Investment Management reduced its stake in TGT by selling 23,853 shares or 31.42% in the most recent quarter. The Hedge Fund company now holds 52,075 shares of TGT which is valued at $4,287,335. Target Corporation makes up approx 1.80% of Profit Investment Management’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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