Meritage Portfolio Management adds Target Corporation (TGT) to its portfolio

Target Corporation (TGT) : Meritage Portfolio Management added new position in Target Corporation during the most recent quarter end. The investment management firm now holds 139,141 shares of Target Corporation which is valued at $11,455,479 , the company said in a statement filed on Apr 21, 2016 with the SEC.Target Corporation makes up approximately 1.29% of Meritage Portfolio Management’s portfolio.

Target Corporation opened for trading at $82.67 and hit $83.57 on the upside on Wednesday, eventually ending the session at $83.29, with a gain of 0.84% or 0.69 points. The heightened volatility saw the trading volume jump to 35,80,220 shares. Company has a market cap of $49,973 M.

Other Hedge Funds, Including , Legacy Private Trust boosted its stake in TGT in the latest quarter, The investment management firm added 3,944 additional shares and now holds a total of 59,564 shares of Target Corporation which is valued at $4,903,904. Target Corporation makes up approx 0.73% of Legacy Private Trust’s portfolio.Boston Advisors boosted its stake in TGT in the latest quarter, The investment management firm added 4,836 additional shares and now holds a total of 282,565 shares of Target Corporation which is valued at $23,263,576. Target Corporation makes up approx 0.57% of Boston Advisors’s portfolio.Capital Investment Advisors reduced its stake in TGT by selling 2,219 shares or 6.24% in the most recent quarter. The Hedge Fund company now holds 33,316 shares of TGT which is valued at $2,751,902. Target Corporation makes up approx 0.27% of Capital Investment Advisors’s portfolio.Prospera Financial Services Inc boosted its stake in TGT in the latest quarter, The investment management firm added 705 additional shares and now holds a total of 5,321 shares of Target Corporation which is valued at $439,515. Target Corporation makes up approx 0.10% of Prospera Financial Services Inc’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in TGT in the latest quarter, The investment management firm added 8,545 additional shares and now holds a total of 146,628 shares of Target Corporation which is valued at $12,111,473. Target Corporation makes up approx 0.27% of Exxonmobil Investment Management Inc Tx’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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