Savoir Faire Capital Management L.P. Cuts Stock Holdings in Target Co. (NYSE:TGT)

Savoir Faire Capital Management L.P. lowered its position in Target Co. (NYSE:TGT) by 12.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,822 shares of the retailer’s stock after selling 6,760 shares during the period. Target comprises about 2.8% of Savoir Faire Capital Management L.P.’s portfolio, making the stock its 13th largest position. Savoir Faire Capital Management L.P.’s holdings in Target were worth $7,080,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TGT. Washington Trust Advisors Inc. increased its stake in Target by 56.1% in the 1st quarter. Washington Trust Advisors Inc. now owns 178 shares of the retailer’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Williams Jones Wealth Management LLC. grew its holdings in shares of Target by 0.6% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,773 shares of the retailer’s stock valued at $1,909,000 after acquiring an additional 68 shares in the last quarter. Beacon Capital Management LLC increased its position in shares of Target by 20.8% during the second quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock valued at $59,000 after acquiring an additional 69 shares during the last quarter. Integral Investment Advisors Inc. increased its position in shares of Target by 5.3% during the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock valued at $203,000 after acquiring an additional 69 shares during the last quarter. Finally, Godshalk Welsh Capital Management Inc. lifted its holdings in Target by 0.9% during the fourth quarter. Godshalk Welsh Capital Management Inc. now owns 8,130 shares of the retailer’s stock worth $1,158,000 after acquiring an additional 70 shares during the period. 79.73% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Brian C. Cornell sold 45,000 shares of the company’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 transaction, the insider now directly owns 303,843 shares in the company, valued at $48,210,768.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Target news, insider Brian C. Cornell sold 45,000 shares of the business’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 transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the 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 in the company, valued at approximately $1,114,173.88. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Target Stock Performance

NYSE TGT opened at $152.92 on Tuesday. The company’s 50 day simple moving average is $148.10 and its two-hundred day simple moving average is $155.07. The stock has a market capitalization of $70.75 billion, a PE ratio of 17.16, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. Target Co. has a 1 year low of $102.93 and a 1 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The company had revenue of $25.02 billion for the quarter, compared to the consensus estimate of $25.19 billion. During the same quarter last year, the business posted $1.80 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Analysts predict that Target Co. will post 9.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TGT shares. Oppenheimer decreased their target price on Target from $200.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Daiwa Capital Markets upgraded shares of Target from a “neutral” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Monday, August 26th. BNP Paribas assumed coverage on shares of Target in a research note on Monday, June 3rd. They issued an “underperform” rating and a $116.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Target from $153.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Daiwa America upgraded Target to a “strong-buy” rating in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $179.68.

About Target

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.