In its third-quarter SEC filing, Diversified Trust Co disclosed a 44.9% reduction in its stake in Target Corporation, paring its holding by 5,769 shares to 7,076 shares. As of the end of the period, the fund’s remaining position was valued at approximately $635,000. This sizable divestiture marks one of the largest single-fund sell-offs among reported institutional moves and underscores a notable shift in confidence from a long-time shareholder.

While Diversified Trust Co was reducing exposure, several other major investors were increasing their positions. Brighton Jones LLC more than doubled its stake in the fourth quarter, adding 3,059 shares for a total holding of 6,080 shares valued at about $822,000. EP Wealth Advisors LLC boosted its position by 3.1% in the first quarter to 16,826 shares worth $1.756 million, and AlTi Global Inc. added 172 shares (a 5.3% increase) to reach 3,399 shares valued at $355,000. Advisors Asset Management Inc. was particularly aggressive, raising its stake by 60.7% to 38,698 shares, representing $4.039 million, while AQR Capital Management LLC lifted its position by 6.7% to 761,621 shares, now valued at $77.845 million. Overall, institutional investors collectively hold nearly 80% of the company’s stock.

Target’s recent third-quarter results showed adjusted earnings of $1.78 per share, topping consensus estimates by $0.07, on revenue of $25.27 billion versus expectations of $25.44 billion. The retailer reported a net margin of 3.58% and a return on equity of 22.74%. Year-over-year revenue dipped 1.6%, and earnings per share declined slightly from $1.85 in the prior-year quarter. Management has set full-year guidance in the range of $7.00 to $8.00 in EPS, while analysts surveyed by MarketBeat.com forecast $8.69 for the current fiscal year, reflecting cautious optimism about a return to growth.