Corebridge Financial Inc. Has $17.66 Million Stake in Target Co. (NYSE:TGT)

Corebridge Financial Inc. reduced its stake in shares of Target Co. (NYSE:TGT) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 130,664 shares of the retailer’s stock after selling 5,545 shares during the quarter. Corebridge Financial Inc.’s holdings in Target were worth $17,663,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its holdings in Target by 1.8% in the third quarter. Thrivent Financial for Lutherans now owns 28,025 shares of the retailer’s stock worth $4,368,000 after buying an additional 490 shares during the last quarter. Nicholas Company Inc. increased its stake in shares of Target by 20.5% during the 4th quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock worth $7,544,000 after purchasing an additional 9,485 shares during the last quarter. River Road Asset Management LLC raised its holdings in shares of Target by 144.9% during the 4th quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock valued at $31,699,000 after purchasing an additional 138,751 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Target by 25.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock valued at $2,430,000 after purchasing an additional 3,590 shares during the last quarter. Finally, Northeast Financial Group Inc. bought a new stake in Target in the fourth quarter worth $1,566,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on TGT shares. JPMorgan Chase & Co. cut their target price on Target from $146.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Jefferies Financial Group cut their price objective on Target from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Guggenheim upped their target price on Target from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Roth Capital set a $122.00 price target on shares of Target in a research report on Wednesday, March 5th. Finally, KGI Securities set a $132.00 price objective on shares of Target in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Target presently has a consensus rating of “Hold” and a consensus target price of $145.55.

Target Trading Up 4.2 %

TGT opened at $108.43 on Tuesday. Target Co. has a fifty-two week low of $101.76 and a fifty-two week high of $181.86. The company has a market cap of $49.40 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 1.94 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.94 and a quick ratio of 0.25. The firm has a 50 day simple moving average of $125.28 and a 200 day simple moving average of $137.62.

Target (NYSE:TGT) last posted its quarterly earnings results on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. On average, sell-side analysts anticipate that Target Co. 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 Sunday, June 1st. Investors of record on Wednesday, May 14th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Wednesday, May 14th. Target’s payout ratio is 50.56%.

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.