Which is why co-managers Cramer and Jack Mohr love, love, love it.
Cramer said he spoke with Cornell and the CEO is very aware of Target's strengths and weaknesses. Target was not doing well in Canada and Cornell cut the losses and ended those Canadian operations. So when Target had issues with its pharmaceuticals division, the company brought in CVS.
Cramer said while some people believe bringing CVS into target stores will mean that Cornell will lose control, "if anything, he's going to get more store traffic." Cramer called CVS a very good operator and the deal will solve Target's issue of not having a profitable pharmacy business.
Mohr said now Target has $1.2 billion in after-tax proceeds to put towards stock buybacks. Cornell has been able to understand where Target needs to improve and has been making the right decisions to get things done. Besides bringing in CVS, Target is improving its baby food division, and in apparel Target's numbers have been going strong.
Cramer said Target has put the hacking scandal behind it and Target now reminds him "of the Target where you used to see the kind of growth that really made you excited about retail."