Equity Investment Corp Acquisition Inc reduced its holdings in Target Corporation (NYSE:TGT) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,630,750 shares of the retailer’s stock after selling 108,750 shares during the period. Target Corporation makes up about 2.9% of Equity Investment Corp Acquisition Inc’s investment portfolio, making the stock its 20th largest position. Equity Investment Corp Acquisition Inc owned about 0.30% of Target Corporation worth $85,272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Penserra Capital Management LLC increased its position in shares of Target Corporation by 9.5% during the first quarter. Penserra Capital Management LLC now owns 2,346 shares of the retailer’s stock valued at $129,000 after purchasing an additional 204 shares during the period. Davidson Investment Advisors increased its position in shares of Target Corporation by 18.5% during the first quarter. Davidson Investment Advisors now owns 2,559 shares of the retailer’s stock valued at $141,000 after purchasing an additional 400 shares during the period. Kistler Tiffany Companies LLC increased its position in shares of Target Corporation by 19.1% during the second quarter. Kistler Tiffany Companies LLC now owns 2,775 shares of the retailer’s stock valued at $145,000 after purchasing an additional 445 shares during the period. Washington Trust Bank increased its position in shares of Target Corporation by 105.6% during the second quarter. Washington Trust Bank now owns 3,067 shares of the retailer’s stock valued at $160,000 after purchasing an additional 1,575 shares during the period. Finally, Massey Quick & Co. LLC bought a new stake in shares of Target Corporation during the first quarter valued at approximately $180,000. 83.33% of the stock is currently owned by institutional investors.

A number of analysts have recently issued reports on TGT shares. Vetr cut Target Corporation from a “strong-buy” rating to a “buy” rating and set a $58.97 price objective on the stock. in a research report on Friday, July 14th. Zacks Investment Research upgraded Target Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Tuesday, June 6th. BidaskClub upgraded Target Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. MKM Partners boosted their price objective on Target Corporation from $58.00 to $69.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Finally, Jefferies Group LLC restated a “hold” rating and set a $59.00 price objective on shares of Target Corporation in a research report on Tuesday, June 20th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the stock. Target Corporation presently has a consensus rating of “Hold” and a consensus target price of $61.64.

Target Corporation (TGT) opened at 59.51 on Thursday. The stock’s 50 day moving average price is $56.29 and its 200 day moving average price is $55.01. Target Corporation has a 52 week low of $48.56 and a 52 week high of $79.33. The firm has a market cap of $32.51 billion, a price-to-earnings ratio of 12.02 and a beta of 0.60.

Target Corporation (NYSE:TGT) last issued its quarterly earnings results on Wednesday, August 16th. The retailer reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. Target Corporation had a return on equity of 25.06% and a net margin of 3.99%. The company had revenue of $16.43 billion for the quarter, compared to analyst estimates of $16.30 billion. During the same quarter last year, the company posted $1.23 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that Target Corporation will post $4.51 EPS for the current year.

In other news, insider Robert M. Harrison sold 2,639 shares of Target Corporation stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $52.05, for a total value of $137,359.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

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Target Corporation Company Profile

Target Corporation (Target) is a general merchandise retailer selling products through its stores and digital channels. Its general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. Its digital channels include a range of general merchandise, including a range of items found in its stores, along with an assortment, such as additional sizes and colors sold only online.

Institutional Ownership by Quarter for Target Corporation (NYSE:TGT)

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