Palouse Capital Management adds Target Corporation (TGT) to its portfolio

Target Corporation (TGT) : Palouse Capital Management added new position in Target Corporation during the most recent quarter end. The investment management firm now holds 57,419 shares of Target Corporation which is valued at $4,320,780 , the company said in a statement filed on Jul 26, 2016 with the SEC.Target Corporation makes up approximately 1.68% of Palouse Capital Management’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama sold out all of its stake in TGT during the most recent quarter. The investment firm sold 562,603 shares of TGT which is valued $42,335,876.Punch Associates Investment Management boosted its stake in TGT in the latest quarter, The investment management firm added 334 additional shares and now holds a total of 59,694 shares of Target Corporation which is valued at $4,414,968. Target Corporation makes up approx 0.49% of Punch Associates Investment Management’s portfolio.Murphy Pohlad Asset Management boosted its stake in TGT in the latest quarter, The investment management firm added 270 additional shares and now holds a total of 24,343 shares of Target Corporation which is valued at $1,781,177. Target Corporation makes up approx 1.29% of Murphy Pohlad Asset Management’s portfolio.Summit Financial Wealth Advisors reduced its stake in TGT by selling 679 shares or 4.03% in the most recent quarter. The Hedge Fund company now holds 16,155 shares of TGT which is valued at $1,152,013. Target Corporation makes up approx 0.48% of Summit Financial Wealth Advisors’s portfolio.

Target Corporation opened for trading at $74.9 and hit $75.385 on the upside on Friday, eventually ending the session at $75.33, with a gain of 0.72% or 0.54 points. The heightened volatility saw the trading volume jump to 49,69,017 shares. Company has a market cap of $44,390 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.

Investors should note that on Jun 8, 2016, Target Corporation announced a cash dividend of $0.6000. The company’s management has announced Aug 15, 2016 as the ex-dividend date and fixed the record date on Aug 17, 2016. The payable date has been fixed on Sep 10, 2016.

Many Wall Street Analysts have commented on Target Corporation. Miller Tabak Initiated Target Corporation on Jul 29, 2016 to “Buy”, Price Target of the shares are set at $87.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 .

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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