Peapack Gladstone Financial Corp Purchases 6,008 Shares of Target Corporation $TGT

Peapack Gladstone Financial Corp lifted its position in Target Corporation (NYSE:TGT) by 25.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,757 shares of the retailer’s stock after acquiring an additional 6,008 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Target were worth $2,909,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rothschild Wealth LLC purchased a new stake in shares of Target during the fourth quarter valued at about $344,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Target by 5.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 567,017 shares of the retailer’s stock valued at $55,426,000 after buying an additional 27,034 shares during the last quarter. Verity & Verity LLC lifted its position in shares of Target by 3.4% during the fourth quarter. Verity & Verity LLC now owns 176,531 shares of the retailer’s stock valued at $17,256,000 after buying an additional 5,861 shares during the last quarter. Essex Financial Services Inc. lifted its position in shares of Target by 3.8% during the fourth quarter. Essex Financial Services Inc. now owns 5,036 shares of the retailer’s stock valued at $492,000 after buying an additional 184 shares during the last quarter. Finally, Founders Financial Securities LLC lifted its position in shares of Target by 8.8% during the fourth quarter. Founders Financial Securities LLC now owns 6,824 shares of the retailer’s stock valued at $667,000 after buying an additional 553 shares during the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Wall Street Analyst Weigh In

TGT has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Target from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Piper Sandler increased their price target on shares of Target from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. increased their price target on shares of Target from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. BNP Paribas Exane increased their price target on shares of Target from $63.00 to $88.00 and gave the company an “underperform” rating in a research report on Wednesday, March 4th. Finally, Freedom Capital lowered shares of Target from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Target presently has a consensus rating of “Hold” and a consensus price target of $125.93.

Insider Transactions at Target

In other news, CAO Matthew A. Liegel sold 2,053 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $117.19, for a total transaction of $240,591.07. Following the sale, the chief accounting officer owned 12,143 shares in the company, valued at approximately $1,423,038.17. The trade was a 14.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cara A. Sylvester sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $125.89, for a total value of $1,258,900.00. Following the completion of the sale, the insider owned 45,930 shares in the company, valued at approximately $5,782,127.70. This represents a 17.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by insiders.

Target Price Performance

Shares of TGT stock opened at $123.13 on Wednesday. Target Corporation has a fifty-two week low of $83.44 and a fifty-two week high of $133.10. The firm has a market capitalization 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 company has a debt-to-equity ratio of 0.87, a quick ratio of 0.30 and a current ratio of 0.93. The stock’s 50-day simple moving average is $123.74 and its 200-day simple moving average is $111.24.

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

Target Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Wednesday, May 13th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.7%. Target’s payout ratio is presently 60.24%.

Target Company 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.