Peapack Gladstone Financial Corp Sells 1,119 Shares of Target Co. (NYSE:TGT)

Peapack Gladstone Financial Corp trimmed its holdings in shares of Target Co. (NYSE:TGT) by 7.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,972 shares of the retailer’s stock after selling 1,119 shares during the period. Peapack Gladstone Financial Corp’s holdings in Target were worth $2,023,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TGT. Legacy Investment Solutions LLC purchased a new position in Target in the third quarter valued at about $28,000. Slocum Gordon & Co LLP purchased a new position in Target in the second quarter valued at approximately $28,000. Hobbs Group Advisors LLC bought a new position in Target during the second quarter valued at $31,000. Wolff Wiese Magana LLC increased its position in Target by 156.5% in the third quarter. Wolff Wiese Magana LLC now owns 218 shares of the retailer’s stock worth $34,000 after buying an additional 133 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Target in the third quarter valued at $36,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

Target Trading Down 0.6 %

Shares of TGT stock opened at $134.52 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99. The firm has a market cap of $61.64 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. The business has a 50-day moving average price of $144.69 and a two-hundred day moving average price of $147.21. Target Co. has a 12-month low of $120.21 and a 12-month high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.45). The firm had revenue of $25.23 billion during the quarter, compared to analysts’ expectations of $25.87 billion. Target had a return on equity of 31.11% and a net margin of 4.06%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.10 EPS. Equities analysts anticipate that Target Co. will post 8.6 EPS for the current fiscal year.

Target Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th were paid a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.33%. The ex-dividend date was Wednesday, November 20th. Target’s dividend payout ratio is presently 47.51%.

Insider Buying and Selling at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the sale, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Jefferies Financial Group increased their price target on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Melius Research initiated coverage on shares of Target in a research report on Monday, September 23rd. They set a “buy” rating and a $180.00 target price for the company. Citigroup lowered shares of Target from a “buy” rating to a “neutral” rating and lowered their price target for the company from $188.00 to $130.00 in a research report on Wednesday, November 20th. Morgan Stanley restated an “overweight” rating and set a $180.00 price target on shares of Target in a research note on Wednesday, August 21st. Finally, TD Cowen reduced their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $160.57.

About Target

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.