In its latest SEC filing for the third quarter, Diversified Trust Co revealed it trimmed its position in Target by 44.9%, selling 5,769 shares and retaining 7,076 shares valued at $635,000. This marked reduction follows a period of underperformance for the retailer, as Diversified Trust Co cited portfolio rebalancing needs and a shift toward higher-growth sectors. The move represents one of the largest single-fund divestitures of Target stock among mid-sized asset managers during the quarter, signaling cautious sentiment ahead of the holiday shopping season.

While Diversified Trust Co pared back its holdings, several peers increased exposure. Brighton Jones LLC doubled down, boosting its stake to 6,080 shares after adding 3,059 shares in the fourth quarter, bringing its position to $822,000. Advisors Asset Management was the most aggressive buyer, lifting its stake by 60.7% to 38,698 shares valued at over $4 million. Meanwhile, AQR Capital Management raised its holdings by 6.7%, ending the period with over 761,000 shares worth nearly $78 million. Collectively, institutional ownership stands at 79.7%, underscoring that despite pockets of selling, the majority of large investors remain committed to Target’s long-term prospects.

Target’s third-quarter results, released on November 19, delivered earnings of $1.78 per share against analysts’ $1.71 estimate, while revenue of $25.27 billion fell slightly short of consensus. Year-over-year sales dipped 1.6% as consumers tightened discretionary spending. Management maintained full-year EPS guidance in the range of 7.00–8.00, below the $8.69 per share market estimate. At a P/E of roughly 12x and a dividend yield near 5%, the stock trades at multi-year lows, reflecting mixed analyst sentiment: ten “buy,” twenty-two “hold,” and four “sell” ratings, with an average target of $102.66. Investors will be watching holiday sales results and margin trends closely for confirmation of a sustainable turnaround.