In its latest SEC filing for the third quarter, Generali Asset Management SPA SGR reduced its holding in Target Corporation by 35.6%, offloading 18,630 shares and ending the period with ownership of 33,721 shares. At the close of the reporting period, the remaining stake was valued at approximately $3.03 million, marking a notable shift in the portfolio allocation of the Italian asset manager away from the retailer.

Meanwhile, several other large investors increased their exposure to Target during the same reporting window. Vanguard Group Inc. expanded its stake by 14.7%, adding 6.61 million shares to reach a total holding of 51.44 million shares. Kingstone Capital Partners Texas LLC and Norges Bank both initiated new positions, investing roughly $596 million and $578 million, respectively. State Street Corp. boosted its position by 4.3%, acquiring 1.53 million additional shares to hold 36.74 million shares, and Arrowstreet Capital Limited Partnership more than doubled its stake, adding 1.27 million shares for a 133.9% increase.

Target’s stock continues to be dominated by institutional holders, which collectively control approximately 79.7% of outstanding shares. The concentration of ownership among mutual funds, pension funds and sovereign wealth vehicles underscores the company’s appeal to large-scale, long-term investors despite recent portfolio rebalancing by some asset managers.

On November 19, Target reported third-quarter earnings per share of $1.78, surpassing consensus estimates by seven cents, on revenue of $25.27 billion, representing a 1.6% year-over-year decline. The retailer posted a net margin of 3.58% and a return on equity of 22.74%. For fiscal 2025, management has set guidance in the range of $7.00 to $8.00 in EPS. Equity analysts currently project full-year earnings of $8.69 per share, reflecting expectations of modest profit growth as Target navigates a challenging consumer environment.