Pennsylvania Trust Co Lowers stake in Target Corporation (TGT)

Target Corporation (TGT) : Pennsylvania Trust Co reduced its stake in Target Corporation by 0.77% during the most recent quarter end. The investment management company now holds a total of 96,698 shares of Target Corporation which is valued at $6,586,101 after selling 746 shares in Target Corporation , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Target Corporation makes up approximately 0.54% of Pennsylvania Trust Co’s portfolio.

Other Hedge Funds, Including , Gierl Augustine Investment Management Inc boosted its stake in TGT in the latest quarter, The investment management firm added 1,204 additional shares and now holds a total of 41,000 shares of Target Corporation which is valued at $2,792,510. Target Corporation makes up approx 2.63% of Gierl Augustine Investment Management Inc’s portfolio.Legacy Private Trust reduced its stake in TGT by selling 19,519 shares or 51.89% in the most recent quarter. The Hedge Fund company now holds 18,097 shares of TGT which is valued at $1,237,654. Target Corporation makes up approx 0.17% of Legacy Private Trust’s portfolio.One Capital Management boosted its stake in TGT in the latest quarter, The investment management firm added 1,037 additional shares and now holds a total of 27,798 shares of Target Corporation which is valued at $1,901,105. Target Corporation makes up approx 0.64% of One Capital Management’s portfolio.First Financial Bank N.a. – Trust Division boosted its stake in TGT in the latest quarter, The investment management firm added 22 additional shares and now holds a total of 7,208 shares of Target Corporation which is valued at $496,343. Target Corporation makes up approx 0.09% of First Financial Bank N.a. – Trust Division’s portfolio.Hefty Wealth Partners boosted its stake in TGT in the latest quarter, The investment management firm added 16,072 additional shares and now holds a total of 16,473 shares of Target Corporation which is valued at $1,115,881. Target Corporation makes up approx 0.85% of Hefty Wealth Partners’s portfolio.

Target Corporation opened for trading at $67.9 and hit $68.55 on the upside on Friday, eventually ending the session at $68.11, with a gain of 0.32% or 0.22 points. The heightened volatility saw the trading volume jump to 38,18,656 shares. Company has a market cap of $39,154 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.

Investors should note that on Sep 21, 2016, Target Corporation announced a cash dividend of $0.6000. The company’s management has announced Nov 14, 2016 as the ex-dividend date and fixed the record date on Nov 16, 2016. The payable date has been fixed on Dec 10, 2016.

Many Wall Street Analysts have commented on Target Corporation. Target Corporation was Initiated by Guggenheim to “Neutral” on Sep 30, 2016. Shares were Resumed by Credit Suisse on Sep 16, 2016 to “Neutral” and Lowered the Price Target to $ 65 from a previous price target of $72 .Shares were Downgraded by Cowen on Sep 12, 2016 to ” Market Perform” and Lowered the Price Target to $ 68 from a previous price target of $75 .

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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