Savoir Faire Capital Management L.P. Has $3.14 Million Holdings in Target Corporation (NYSE:TGT)

Savoir Faire Capital Management L.P. decreased its position in shares of Target Corporation (NYSE:TGT) by 54.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,100 shares of the retailer’s stock after selling 35,933 shares during the quarter. Target makes up approximately 2.8% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 13th largest holding. Savoir Faire Capital Management L.P.’s holdings in Target were worth $3,141,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new position in shares of Target in the 4th quarter valued at about $29,000. Legacy Investment Solutions LLC grew its holdings in Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer’s stock worth $35,000 after purchasing an additional 85 shares during the period. Heck Capital Advisors LLC bought a new position in Target during the fourth quarter worth about $40,000. Atwood & Palmer Inc. grew its holdings in Target by 951.4% during the first quarter. Atwood & Palmer Inc. now owns 389 shares of the retailer’s stock worth $41,000 after purchasing an additional 352 shares during the period. Finally, Abound Financial LLC bought a new position in Target during the first quarter worth about $43,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

Insider Activity

In other news, insider Brian C. Cornell sold 45,000 shares of Target stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $96.18, for a total transaction of $4,328,100.00. Following the completion of the sale, the insider directly owned 246,453 shares of the company’s stock, valued at approximately $23,703,849.54. The trade was a 15.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Target Stock Performance

TGT traded down $0.25 on Friday, hitting $103.40. The company’s stock had a trading volume of 5,280,800 shares, compared to its average volume of 6,298,866. The company’s 50 day simple moving average is $98.47 and its 200-day simple moving average is $109.69. The firm has a market cap of $46.98 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 2.96 and a beta of 1.22. Target Corporation has a 12 month low of $87.35 and a 12 month high of $167.40. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.96.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, May 21st. The retailer reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The firm had revenue of $24.20 billion for the quarter, compared to analysts’ expectations of $24.54 billion. During the same quarter last year, the firm earned $2.03 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be given a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.33%. Target’s dividend payout ratio (DPR) is presently 49.23%.

Analysts Set New Price Targets

TGT has been the subject of a number of research analyst reports. Mizuho reduced their price target on Target from $92.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. Wall Street Zen downgraded shares of Target from a “buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Target from $105.00 to $109.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Robert W. Baird set a $100.00 price objective on shares of Target in a research report on Thursday, May 22nd. Finally, Sanford C. Bernstein downgraded shares of Target from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $97.00 to $82.00 in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $116.00.

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.