Target Co. (NYSE:TGT) Position Decreased by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. cut its stake in shares of Target Co. (NYSE:TGT) by 22.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,082 shares of the retailer’s stock after selling 10,740 shares during the quarter. Target comprises approximately 3.0% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 10th biggest holding. Savoir Faire Capital Management L.P.’s holdings in Target were worth $5,780,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in Target in the second quarter valued at $25,000. Slocum Gordon & Co LLP acquired a new position in shares of Target in the second quarter worth about $28,000. Hobbs Group Advisors LLC acquired a new position in shares of Target in the second quarter worth about $31,000. Wolff Wiese Magana LLC raised its position in shares of Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after acquiring an additional 133 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Target in the second quarter worth about $37,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Price Performance

TGT stock opened at $156.50 on Tuesday. The firm has a 50-day moving average of $152.68 and a two-hundred day moving average of $150.33. The company has a current ratio of 0.90, a quick ratio of 0.27 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $72.09 billion, a PE ratio of 16.17, a P/E/G ratio of 2.01 and a beta of 1.24. Target Co. has a one year low of $128.37 and a one year high of $181.86.

Target (NYSE:TGT) last issued its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.39. The firm 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%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 earnings per share. On average, analysts forecast that Target Co. will post 9.55 earnings per share for the current year.

Target Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TGT shares. Royal Bank of Canada upped their price objective on shares of Target from $174.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Melius Research started coverage on shares of Target in a research report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price objective on shares of Target in a research report on Wednesday, August 21st. Sanford C. Bernstein assumed coverage on shares of Target in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $168.00 price target for the company. Finally, Citigroup upped their price target on shares of Target from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Target has a consensus rating of “Moderate Buy” and a consensus target price of $179.47.

Insider Transactions at Target

In other Target news, CAO Matthew A. Liegel sold 1,000 shares of Target stock in a transaction on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction dated 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 transaction, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,348 shares of company stock worth $8,290,995. Insiders own 0.15% of the company’s stock.

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.