Target Corporation (NYSE: TGT) operates a nationwide chain of general merchandise stores, offering everything from apparel and home goods to groceries and essentials. It has long been one of America’s most recognizable retailers, but the past year has been tough.
Shares now trade around $96 with a market value of about $43.6 billion, down more than 37% as higher costs, tighter consumer budgets, and fierce competition from Walmart and Amazon weighed on results.
Once known for steady growth and a loyal customer base, Target is now working to stabilize margins and reignite sales momentum. Its massive store network, digital investments, and private-label brands still give the company meaningful scale advantages, but execution risks remain. While insiders have been selling shares, Target remains a core holding for many of the world’s largest asset managers, reflecting its place as a staple in U.S. equity portfolios.
Looking at ownership and insider moves helps show how institutions and leadership may be approaching Target today.
Who Are Target’s Top Shareholders?
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Target’s ownership is led by the big passive managers, while active investors show mixed positioning.
- The Vanguard Group: 51.2M shares (11.3%), ~$4.9B. Added 5.8M (+12.7%).
- State Street: 36.7M shares (8.1%), ~$3.5B. Added 1.5M (+4.3%).
- BlackRock: 22.1M shares (4.9%), ~$2.1B. Cut 380K (–1.7%).
- Charles Schwab: 16.2M shares (3.6%), ~$1.6B. Added 277K (+1.7%).
- Fidelity: 12.3M shares (2.7%), ~$1.2B. Added 953K (+8.4%).
- Geode Capital: 10.2M shares (2.2%), ~$978M. Slight increase (+0.03%).
- MFS: 5.9M shares (1.3%), ~$565M. Cut 680K (–10.4%).
- Norges Bank: 5.9M shares (1.3%), ~$562M. Added 253K (+4.5%).
- BofA Global Research: 5.5M shares (1.2%), ~$524M. Cut 359K (–6.2%).
- UBS: 5.0M shares (1.1%), ~$483M. Cut 913K (–15.4%).
One highlight from last quarter is Jane Street Group, which lifted its Target stake by over 1,200% to about 453K shares worth $45 million. That kind of sharp increase looks like a big tactical swing into the stock.
Another notable move came from Schonfeld Strategic Advisors, run by Steven Schonfeld, which boosted its position by more than 600% to roughly 100K shares valued near $10 million. Such a jump may reflect growing confidence in Target’s ability to stabilize margins.
Meanwhile, Hudson Bay Capital Management, led by Sander Gerber, expanded its stake by about 464% to 1.5M shares worth $148 million. For a large multi-strategy fund, that scale of buying signals meaningful conviction in Target at these levels.
Vanguard and State Street made large adds, showing long-term confidence. BlackRock, MFS, and UBS trimmed, suggesting some caution. Fidelity, Schwab, and several hedge funds adding exposure may point to selective optimism.
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Target’s Recent Insider Trades
Insider trading activity can provide useful context on how management feels about the company’s near-term outlook. At Target, recent filings show a clear pattern of selling across the executive team.
While insider sales do not always mean lack of confidence since they can come from diversification, tax planning, or preset schedules, the lack of insider buying makes the trend worth noting.
It’s important to note that if it looks like executives “bought” shares at a $0 share price, these shares were likely received as executive compensation and weren’t open market purchases.
Here are some recent insider trades:
- Brian Cornell (CEO): Sold ~56K shares at ~$92–96.
- Richard Gomez (CFO): Sold ~1.9K shares at ~$92.
- Melissa Kremer (CHRO): Sold ~1.1K shares at ~$92.
- Michael Fiddelke (COO): Sold ~2.6K shares at ~$92.
- Christina Hennington (Chief Growth Officer): Sold ~1.6K shares at ~$92.
- Other officers: Smaller sales in the $92–101 range.
Insider activity leaned toward selling. While these sales may be for personal or financial reasons, the absence of insider buying could hint that management is not in a rush to add more exposure at current levels.
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What the Ownership & Insider Trade Data Tell Us
Looking at both institutional ownership and insider trades, Target’s picture is mixed. Large index funds like Vanguard and State Street continue to anchor the shareholder base, giving stability. Active managers, however, look more divided, with some adding and others pulling back.
On the insider side, activity has leaned toward selling, with no meaningful buying to offset it. These moves might reflect portfolio management rather than outright bearishness, but they still point to some caution.
Target remains a staple in institutional portfolios, but conviction looks split. Until the company shows clearer signs of margin recovery and stronger earnings, both big investors and insiders appear to be keeping their bets measured.
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