Savoir Faire Capital Management L.P. Sells 35,933 Shares of Target Corporation (NYSE:TGT)

Savoir Faire Capital Management L.P. trimmed its holdings in Target Corporation (NYSE:TGT - Free Report) by 54.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,100 shares of the retailer's stock after selling 35,933 shares during the period. Target accounts for 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 SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new position in shares of Target in the 4th quarter valued at $29,000. Legacy Investment Solutions LLC grew its position in Target by 47.5% during the fourth quarter. Legacy Investment Solutions LLC now owns 264 shares of the retailer's stock valued at $35,000 after acquiring an additional 85 shares during the period. Heck Capital Advisors LLC acquired a new stake in Target during the fourth quarter worth about $40,000. Atwood & Palmer Inc. raised its holdings in shares of Target by 951.4% in the 1st 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 acquired a new position in shares of Target in the 1st quarter valued at about $43,000. Hedge funds and other institutional investors own 79.73% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler set a $94.00 price target on shares of Target and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Wells Fargo & Company decreased their price target on shares of Target from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Loop Capital set a $95.00 target price on Target in a research report on Thursday. Wedbush reaffirmed an "outperform" rating on shares of Target in a research note on Thursday. Finally, Bank of America lowered Target from a "buy" rating to a "neutral" rating and cut their target price for the company from $145.00 to $105.00 in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $115.65.

Target Stock Down 1.0%

Shares of TGT stock traded down $1.07 on Monday, reaching $102.39. 2,638,168 shares of the company's stock traded hands, compared to its average volume of 6,297,510. Target Corporation has a 12-month low of $87.35 and a 12-month high of $167.40. The company has a market capitalization of $46.52 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 2.96 and a beta of 1.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.25 and a current ratio of 0.94. The business's 50 day moving average price is $98.47 and its two-hundred day moving average price is $109.31.

Target (NYSE:TGT - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The retailer reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.35). Target had a net margin of 3.95% and a return on equity of 25.59%. The company had revenue of $24.20 billion during the quarter, compared to analyst estimates of $24.54 billion. During the same quarter in the prior year, the company posted $2.03 EPS. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that Target Corporation will post 8.69 earnings per share for the current year.

Target Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Wednesday, August 13th will be issued a $1.12 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $4.48 dividend on an annualized basis and a yield of 4.38%. Target's dividend payout ratio is currently 49.23%.

Insider Transactions at Target

In related 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 value of $4,328,100.00. Following the completion of the sale, the insider 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by company insiders.

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.