Smead Capital Management INC Raised Target Corp (TGT) Holding by $33.12 Million as Stock Declined

January 15, 2018 - By Ellis Scott

Smead Capital Management Inc increased its stake in Target Corp (TGT) by 70.45% based on its latest 2017Q3 regulatory filing with the SEC. Smead Capital Management Inc bought 561,396 shares as the company’s stock declined 14.90% while stock markets rallied. The institutional investor held 1.36 million shares of the department and specialty retail stores company at the end of 2017Q3, valued at $80.15 million, up from 796,846 at the end of the previous reported quarter. Smead Capital Management Inc who had been investing in Target Corp for a number of months, seems to be bullish on the $41.75 billion market cap company. The stock increased 3.78% or $2.8 during the last trading session, reaching $76.8. About 14.85M shares traded or 94.55% up from the average. Target Corporation (NYSE:TGT) has declined 16.51% since January 15, 2017 and is downtrending. It has underperformed by 33.21% the S&P500.

Smead Capital Management Inc, which manages about $762.03 million and $2.10 billion US Long portfolio, decreased its stake in Paypal Hldgs Inc by 936,941 shares to 1.05M shares, valued at $67.11M in 2017Q3, according to the filing.

More notable recent Target Corporation (NYSE:TGT) news were published by: Investorplace.com which released: “No, Amazon.com, Inc. Will Not Buy Target Corporation!” on January 08, 2018, also Seekingalpha.com with their article: “Target Personifies The Best Of American Capitalism And Growth Strategies” published on January 04, 2018, Investorplace.com published: “Will Amazon.com, Inc. Really Buy Target Corporation? Yes!” on January 12, 2018. More interesting news about Target Corporation (NYSE:TGT) were released by: Seekingalpha.com and their article: “Target’s Biggest Risk In 2018” published on December 31, 2017 as well as Seekingalpha.com‘s news article titled: “Target to launch women’s denim brand” with publication date: January 08, 2018.

Target Corporation (NYSE:TGT) Ratings Coverage

Among 28 analysts covering Target Corporation (NYSE:TGT), 8 have Buy rating, 3 Sell and 17 Hold. Therefore 29% are positive. Target Corporation had 81 analyst reports since July 21, 2015 according to SRatingsIntel. Robert W. Baird maintained the shares of TGT in report on Tuesday, January 9 with “Hold” rating. The firm earned “Market Perform” rating on Friday, August 18 by BMO Capital Markets. As per Thursday, August 18, the company rating was maintained by Telsey Advisory Group. The stock of Target Corporation (NYSE:TGT) earned “Hold” rating by BMO Capital Markets on Thursday, July 13. Jefferies maintained the shares of TGT in report on Tuesday, January 9 with “Hold” rating. Stifel Nicolaus maintained Target Corporation (NYSE:TGT) on Thursday, November 16 with “Hold” rating. The firm has “Outperform” rating by Cowen & Co given on Saturday, August 22. The company was initiated on Friday, July 29 by Miller Tabak. The firm has “Peer Perform” rating by Wolfe Research given on Friday, April 29. The stock of Target Corporation (NYSE:TGT) earned “Market Perform” rating by Cowen & Co on Monday, September 12.

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