Peapack Gladstone Financial Corp Raises Stake in Target Corporation $TGT

Peapack Gladstone Financial Corp boosted its position in Target Corporation (NYSE:TGT) by 25.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,757 shares of the retailer’s stock after purchasing an additional 6,008 shares during the period. Peapack Gladstone Financial Corp’s holdings in Target were worth $2,909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Valtinson Bruner Financial Planning LLC boosted its position in Target by 2.6% in the fourth quarter. Valtinson Bruner Financial Planning LLC now owns 3,604 shares of the retailer’s stock valued at $352,000 after buying an additional 92 shares during the last quarter. Auxano Advisors LLC boosted its position in Target by 3.0% in the fourth quarter. Auxano Advisors LLC now owns 3,193 shares of the retailer’s stock valued at $312,000 after buying an additional 93 shares during the last quarter. Neumann Capital Management LLC lifted its holdings in Target by 0.8% in the fourth quarter. Neumann Capital Management LLC now owns 13,280 shares of the retailer’s stock valued at $1,298,000 after acquiring an additional 100 shares during the period. Binnacle Investments Inc lifted its holdings in Target by 11.4% in the second quarter. Binnacle Investments Inc now owns 1,013 shares of the retailer’s stock valued at $100,000 after acquiring an additional 104 shares during the period. Finally, Mission Wealth Management LP lifted its holdings in Target by 1.6% in the fourth quarter. Mission Wealth Management LP now owns 6,937 shares of the retailer’s stock valued at $678,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Insider Activity at Target

In related news, insider Cara A. Sylvester sold 10,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the transaction, the insider directly owned 45,930 shares of the company’s stock, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew A. Liegel sold 2,053 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $117.19, for a total value of $240,591.07. Following the completion of the transaction, the chief accounting officer directly owned 12,143 shares of the company’s stock, valued at approximately $1,423,038.17. This represents a 14.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company’s stock.

Target Trading Down 0.5%

Shares of TGT stock opened at $123.13 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.93 and a quick ratio of 0.30. The company has a market cap of $55.92 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.42 and a beta of 1.00. The stock has a 50 day simple moving average of $123.74 and a 200-day simple moving average of $111.24. Target Corporation has a 1-year low of $83.44 and a 1-year high of $133.10.

Target (NYSE:TGT) last announced its earnings results on Wednesday, May 20th. The retailer reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.24. The business had revenue of $25.44 billion during the quarter, compared to the consensus estimate of $24.66 billion. Target had a return on equity of 22.92% and a net margin of 3.24%.The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 EPS. Target has set its FY 2026 guidance at 7.500-8.500 EPS. On average, equities research analysts expect that Target Corporation will post 8.35 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 13th were paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, May 13th. Target’s dividend payout ratio is presently 60.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TGT. UBS Group boosted their price target on Target from $130.00 to $144.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. BMO Capital Markets boosted their price target on Target from $105.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, March 4th. Telsey Advisory Group boosted their price target on Target from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $123.00 price target on shares of Target in a report on Friday, May 15th. Finally, Guggenheim reissued a “buy” rating and issued a $140.00 price target on shares of Target in a report on Wednesday, May 20th. Eleven investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $125.93.

Target Profile

Target Corporation (NYSE: TGT) is a U.S.-based general merchandise retailer headquartered in Minneapolis, Minnesota. The company operates a network of full-line and small-format stores across the United States alongside a national e-commerce platform and mobile app. Target’s retail assortment spans apparel, home goods, electronics, groceries and household essentials, plus beauty, baby and pet categories. The firm complements national brands with a portfolio of owned and exclusive labels and partnerships that help differentiate its merchandise assortment.

Target traces its roots to the Dayton Company, founded by George Dayton in 1902; the Target discount chain was launched in 1962 and the parent company later adopted the Target Corporation name.