Generali Asset Management Cuts Target Stake 35.6%, Leaves $3.03M Position
Generali Asset Management SPA SGR cut its Target stake by 35.6% in Q3, selling 18,630 shares to end the quarter with 33,721 shares valued at $3.03 million. Institutional investors now control 79.7% of Target’s shares, underscoring the move’s limited impact on overall ownership.
1. Generali Asset Management Cuts Stake in Target
In the third quarter, Generali Asset Management SPA SGR reduced its holdings in Target Corporation by 35.6%, selling 18,630 shares and ending the period with 33,721 shares. At the close of the reporting period, those shares were valued at approximately 3.03 million dollars, reflecting a strategic decision to scale back exposure to the retail sector within the firm’s broader equity portfolio.
2. Major Institutional Movements in Second Quarter
Several large investors adjusted their positions in Target during the second quarter. Vanguard Group increased its stake by 14.7%, adding 6,607,982 shares to reach 51,444,338 shares valued at roughly 5.07 billion dollars. Kingstone Capital Partners Texas LLC and Norges Bank each initiated new positions of 595.8 million dollars and 578.0 million dollars respectively. State Street Corporation boosted its ownership by 4.3%, acquiring 1,529,026 additional shares to hold 36,736,101 shares worth 3.62 billion dollars. Arrowstreet Capital Limited Partnership expanded its position by 133.9%, adding 1,273,129 shares to hold 2,223,776 shares valued at 219.4 million dollars. Combined, hedge funds and other institutions control 79.73% of Target’s outstanding shares.
3. Quarterly Results and Full-Year Guidance
In its most recent earnings release, Target reported earnings per share of 1.78, exceeding analyst consensus by 0.07. Revenue for the quarter reached 25.27 billion dollars, slightly below the 25.44 billion dollar consensus, resulting in a net margin of 3.58% and a return on equity of 22.74%. Year-over-year revenue declined by 1.6%. Management set full-year guidance for fiscal 2025 at 7.000 to 8.000 earnings per share, while analysts project full-year EPS of 8.69.
4. Analyst Ratings and Price Targets
Equity research firms maintain a cautious stance, with ten analysts issuing Buy ratings, twenty-two at Hold and four at Sell, resulting in an average consensus rating of Hold. The average price target across these reports stands at 102.66, indicating a relatively modest upside from current valuation levels as analysts weigh Target’s margin pressures against its strategic initiatives in private labels and digital growth.