Laffer Investments buys $2,658,202 stake in Target Corporation (TGT)

Target Corporation (TGT) : Laffer Investments scooped up 26,231 additional shares in Target Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 35,064 shares of Target Corporation which is valued at $2,658,202.Target Corporation makes up approximately 0.83% of Laffer Investments’s portfolio.

Other Hedge Funds, Including , Parallax Volatility Advisers added TGT to its portfolio by purchasing 87,408 company shares during the most recent quarter which is valued at $6,626,400. Target Corporation makes up approx 0.30% of Parallax Volatility Advisers’s portfolio.Massachusetts Financial Services Co boosted its stake in TGT in the latest quarter, The investment management firm added 1,545,167 additional shares and now holds a total of 13,035,746 shares of Target Corporation which is valued at $988,239,904. Target Corporation makes up approx 0.48% of Massachusetts Financial Services Co’s portfolio.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in TGT in the latest quarter, The investment management firm added 2,492 additional shares and now holds a total of 47,182 shares of Target Corporation which is valued at $3,576,867. Target Corporation makes up approx 0.07% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.Utah Retirement Systems reduced its stake in TGT by selling 1,400 shares or 1.28% in the most recent quarter. The Hedge Fund company now holds 108,133 shares of TGT which is valued at $8,012,655. Target Corporation makes up approx 0.21% of Utah Retirement Systems’s portfolio.Montag A Associates Inc reduced its stake in TGT by selling 25,923 shares or 41.65% in the most recent quarter. The Hedge Fund company now holds 36,310 shares of TGT which is valued at $2,690,571. Target Corporation makes up approx 0.35% of Montag A Associates Inc’s portfolio.

Target Corporation opened for trading at $70.34 and hit $70.7 on the upside on Thursday, eventually ending the session at $70.58, with a gain of 0.56% or 0.39 points. The heightened volatility saw the trading volume jump to 51,99,939 shares. Company has a market cap of $40,574 M.

On the company’s financial health, Target Corporation reported $1.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $1.13. The company had revenue of $16169.00 million for the quarter, compared to analysts expectations of $16170.29 million. The company’s revenue was down -7.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.22 EPS.

Many Wall Street Analysts have commented on Target Corporation. Shares were Reiterated by Telsey Advisory Group on Aug 18, 2016 to “Outperform” and Lowered the Price Target to $ 82 from a previous price target of $88 .Company shares were Reiterated by Deutsche Bank on Aug 15, 2016 to “Hold”, Firm has raised the Price Target to $ 79 from a previous price target of $78 .Miller Tabak Initiated Target Corporation on Jul 29, 2016 to “Buy”, Price Target of the shares are set at $87.

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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