Should You Sell Target Corporation (TGT) Now?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. Since 2015, for the first time, the market witnessed two consecutive quarterly losses. During the second quarter, the S&P 500 Index continued its decline, trading at -16.1%. Inflation concerns and interest rate hikes impacted the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers discussed stocks like Target Corporation (NYSE:TGT) in the second quarter 2022 investor letter. Headquartered in Minneapolis, Minnesota, Target Corporation (NYSE:TGT) is a US-based merchandise retailer. On October 3, 2022, Target Corporation (NYSE:TGT) stock closed at $151.79 per share. One-month return of Target Corporation (NYSE:TGT) was -7.21% and its shares lost 33.30% of their value over the last 52 weeks. Target Corporation (NYSE:TGT) has a market capitalization of $68.298 billion.

Here is what Carillon Tower Advisers specifically said about Target Corporation (NYSE:TGT) in its Q2 2022 investor letter:

“Target Corporation (NYSE:TGT) faced its worst day in decades after trimming its profit forecast for the year due to higher costs. While many of the cost pressures are likely to persist in the near term, the company also struggled with a shift in consumer spending, which resulted in inventory write-downs.”

Target Corporation (NYSE:TGT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 46 hedge fund portfolios held Target Corporation (NYSE:TGT) at the end of the second quarter which was 50 in the previous quarter.

We discussed Target Corporation (NYSE:TGT) in another article and shared the best dividend aristocrat stocks to buy heading into recession. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.