Target Co. (NYSE:TGT) is Savoir Faire Capital Management L.P.’s 10th Largest Position

Savoir Faire Capital Management L.P. cut its stake in shares of Target Co. (NYSE:TGT) by 22.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,082 shares of the retailer’s stock after selling 10,740 shares during the period. Target comprises approximately 3.0% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 10th largest position. Savoir Faire Capital Management L.P.’s holdings in Target were worth $5,780,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Holistic Financial Partners raised its stake in Target by 16.2% during the 3rd quarter. Holistic Financial Partners now owns 1,981 shares of the retailer’s stock valued at $309,000 after buying an additional 276 shares during the last quarter. J. W. Coons Advisors LLC purchased a new stake in shares of Target in the 3rd quarter worth $539,000. Richard C. Young & CO. LTD. increased its stake in shares of Target by 3.3% in the 3rd quarter. Richard C. Young & CO. LTD. now owns 74,299 shares of the retailer’s stock worth $11,580,000 after purchasing an additional 2,351 shares in the last quarter. Islay Capital Management LLC increased its stake in shares of Target by 305.7% in the 3rd quarter. Islay Capital Management LLC now owns 12,114 shares of the retailer’s stock worth $1,888,000 after purchasing an additional 9,128 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Target by 0.5% in the 3rd quarter. Swiss National Bank now owns 1,373,200 shares of the retailer’s stock worth $214,027,000 after purchasing an additional 6,200 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TGT has been the subject of several analyst reports. Daiwa America upgraded Target to a “strong-buy” rating in a research note on Monday, August 26th. Daiwa Capital Markets upgraded Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a research note on Monday, August 26th. Oppenheimer dropped their target price on shares of Target from $200.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Roth Mkm upped their target price on shares of Target from $153.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Finally, Wells Fargo & Company upped their target price on shares of Target from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $179.47.

Insider Activity at Target

In other Target news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total value of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. This trade represents a 12.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew A. Liegel sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the sale, the chief accounting officer now owns 7,276 shares of the company’s stock, valued at approximately $1,114,173.88. This trade represents a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $8,290,995 over the last ninety days. 0.15% of the stock is owned by company insiders.

Target Stock Performance

Shares of NYSE:TGT opened at $156.50 on Tuesday. The firm has a market cap of $72.09 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24. The firm’s 50 day simple moving average is $152.68 and its 200-day simple moving average is $150.33. Target Co. has a one year low of $128.37 and a one year high of $181.86. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.90.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.39. The company had revenue of $25.02 billion for the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. Target’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $1.80 earnings per share. As a group, equities analysts predict that Target Co. will post 9.55 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, November 20th. Target’s payout ratio is 46.28%.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.