Somerville Kurt F buys $5 Million stake in Target Corporation (TGT)

Target Corporation (TGT) : Somerville Kurt F scooped up 2,045 additional shares in Target Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 27, 2016. The investment management firm now holds a total of 73,136 shares of Target Corporation which is valued at $5 Million.Target Corporation makes up approximately 1.15% of Somerville Kurt F’s portfolio.

Other Hedge Funds, Including , Puzo Michael J boosted its stake in TGT in the latest quarter, The investment management firm added 115 additional shares and now holds a total of 11,260 shares of Target Corporation which is valued at $775,814. Target Corporation makes up approx 0.51% of Puzo Michael J’s portfolio. Croft-leominster Inc added TGT to its portfolio by purchasing 2,675 company shares during the most recent quarter which is valued at $183,666. Target Corporation makes up approx 0.04% of Croft-leominster Inc’s portfolio.Intact Investment Management boosted its stake in TGT in the latest quarter, The investment management firm added 30,900 additional shares and now holds a total of 104,900 shares of Target Corporation which is valued at $7.8 Million. Target Corporation makes up approx 0.38% of Intact Investment Management’s portfolio.Altrinsic Global Advisors boosted its stake in TGT in the latest quarter, The investment management firm added 313,554 additional shares and now holds a total of 878,153 shares of Target Corporation which is valued at $64.9 Million. Target Corporation makes up approx 1.79% of Altrinsic Global Advisors’s portfolio.Victory Capital Management Inc boosted its stake in TGT in the latest quarter, The investment management firm added 547,939 additional shares and now holds a total of 556,237 shares of Target Corporation which is valued at $41.1 Million. Target Corporation makes up approx 0.18% of Victory Capital Management Inc’s portfolio.

Target Corporation closed down -0.57 points or -0.83% at $68.24 with 53,75,445 shares getting traded on Tuesday. Post opening the session at $69.22, the shares hit an intraday low of $68.19 and an intraday high of $69.64 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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