Stockman Asset Management Lowers stake in Target Corporation (TGT)

Target Corporation (TGT) : Stockman Asset Management reduced its stake in Target Corporation by 0.9% during the most recent quarter end. The investment management company now holds a total of 38,250 shares of Target Corporation which is valued at $2.8 Million after selling 347 shares in Target Corporation , the firm said in a disclosure report filed with the SEC on May 12, 2016.Target Corporation makes up approximately 2.23% of Stockman Asset Management’s portfolio.

Other Hedge Funds, Including , Rafferty Asset Management reduced its stake in TGT by selling 45,362 shares or 84.99% in the most recent quarter. The Hedge Fund company now holds 8,009 shares of TGT which is valued at $591,705. Target Corporation makes up approx 0.03% of Rafferty Asset Management’s portfolio.Wfg Advisors Lp reduced its stake in TGT by selling 842 shares or 9.75% in the most recent quarter. The Hedge Fund company now holds 7,791 shares of TGT which is valued at $575,599. Target Corporation makes up approx 0.17% of Wfg Advisors Lp’s portfolio.Cibc Asset Management Inc boosted its stake in TGT in the latest quarter, The investment management firm added 194 additional shares and now holds a total of 63,289 shares of Target Corporation which is valued at $4.7 Million. Target Corporation makes up approx 0.03% of Cibc Asset Management Inc’s portfolio.Great West Life Assurance Co Can boosted its stake in TGT in the latest quarter, The investment management firm added 188,102 additional shares and now holds a total of 1,026,787 shares of Target Corporation which is valued at $81.6 Million. Target Corporation makes up approx 0.29% of Great West Life Assurance Co Can’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.

Target Corporation opened for trading at $67.39 and hit $69.1401 on the upside on Friday, eventually ending the session at $68.66, with a gain of 2.39% or 1.6 points. The heightened volatility saw the trading volume jump to 93,25,795 shares. Company has a market cap of $41,195 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 Reiterated by Telsey Advisory Group on May 19, 2016 to “Outperform” and Lowered the Price Target to $ 88 from a previous price target of $91 .Shares were Reiterated by MKM Partners on May 19, 2016 to “Neutral” and Lowered the Price Target to $ 73 from a previous price target of $81 .Shares were Reiterated by Barclays on May 19, 2016 to “Underweight” and Lowered the Price Target to $ 65 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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