Comerica Bank Lowers stake in Target Corporation (TGT)

Target Corporation (TGT) : Comerica Bank reduced its stake in Target Corporation by 4.22% during the most recent quarter end. The investment management company now holds a total of 512,268 shares of Target Corporation which is valued at $37.8 Million after selling 22,587 shares in Target Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.Target Corporation makes up approximately 0.34% of Comerica Bank’s portfolio.

Other Hedge Funds, Including , Kernodle Katon Asset Management Group boosted its stake in TGT in the latest quarter, The investment management firm added 5,220 additional shares and now holds a total of 6,719 shares of Target Corporation which is valued at $496,400. Target Corporation makes up approx 0.47% of Kernodle Katon Asset Management Group’s portfolio.Vsr Financial Services reduced its stake in TGT by selling 794 shares or 15.65% in the most recent quarter. The Hedge Fund company now holds 4,279 shares of TGT which is valued at $336,928. Target Corporation makes up approx 0.04% of Vsr Financial Services’s portfolio.Evercore Wealth Management boosted its stake in TGT in the latest quarter, The investment management firm added 851 additional shares and now holds a total of 17,466 shares of Target Corporation which is valued at $1.4 Million. Target Corporation makes up approx 0.06% of Evercore Wealth Management’s portfolio.Security National Trust Co reduced its stake in TGT by selling 74 shares or 1.7% in the most recent quarter. The Hedge Fund company now holds 4,281 shares of TGT which is valued at $340,340. Target Corporation makes up approx 0.13% of Security National Trust Co’s portfolio.Glenmede Trust Co Na boosted its stake in TGT in the latest quarter, The investment management firm added 271,970 additional shares and now holds a total of 631,212 shares of Target Corporation which is valued at $50.2 Million. Target Corporation makes up approx 0.32% of Glenmede Trust Co Na’s portfolio.

Target Corporation opened for trading at $73.55 and hit $75.35 on the upside on Monday, eventually ending the session at $74.61, with a gain of 1.76% or 1.29 points. The heightened volatility saw the trading volume jump to 87,56,444 shares. Company has a market cap of $44,765 M.

On the company’s financial health, Target Corporation reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on May 18, 2016. Analyst had a consensus of $1.19. The company had revenue of $16196.00 million for the quarter, compared to analysts expectations of $16313.21 million. The company’s revenue was down -5.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.10 EPS.

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 .

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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