Alliancebernstein L.P. Has $100.76 Million Stock Holdings in Target Co. (NYSE:TGT)

Alliancebernstein L.P. lowered its stake in shares of Target Co. (NYSE:TGT) by 29.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 745,369 shares of the retailer’s stock after selling 315,008 shares during the period. Alliancebernstein L.P. owned about 0.16% of Target worth $100,759,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Nicholas Company Inc. grew its stake in Target by 20.5% in the fourth quarter. Nicholas Company Inc. now owns 55,810 shares of the retailer’s stock valued at $7,544,000 after purchasing an additional 9,485 shares in the last quarter. River Road Asset Management LLC increased its holdings in Target by 144.9% in the fourth quarter. River Road Asset Management LLC now owns 234,492 shares of the retailer’s stock worth $31,699,000 after buying an additional 138,751 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Target during the fourth quarter valued at approximately $6,459,000. Wilmington Savings Fund Society FSB increased its stake in shares of Target by 25.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 17,977 shares of the retailer’s stock worth $2,430,000 after purchasing an additional 3,590 shares during the last quarter. Finally, Stevens Capital Management LP raised its holdings in shares of Target by 185.4% during the 4th quarter. Stevens Capital Management LP now owns 14,628 shares of the retailer’s stock valued at $1,977,000 after purchasing an additional 9,502 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Piper Sandler lowered their target price on shares of Target from $132.00 to $124.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group reduced their target price on Target from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Bank of America dropped their price target on shares of Target from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Roth Capital set a $122.00 price objective on shares of Target in a report on Wednesday, March 5th. Finally, Oppenheimer dropped their target price on shares of Target from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $142.90.

Target Trading Up 1.4 %

TGT stock opened at $105.84 on Thursday. Target Co. has a fifty-two week low of $99.98 and a fifty-two week high of $177.23. The stock has a market capitalization of $48.22 billion, a price-to-earnings ratio of 11.22, a P/E/G 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 business has a fifty day moving average price of $121.12 and a 200 day moving average price of $135.54.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $30.92 billion for the quarter, compared to analyst estimates of $30.83 billion. Analysts expect that Target Co. will post 8.69 EPS for the current fiscal year.

Target Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 4.23%. 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.