Smead Capital Management 13F: Cuts Target (TGT) Stake by $28M

Smead Capital Management disclosed in a filing on October 16, 2026, that it cut its position in Target Corporation (NYSE: TGT) by 176,556 shares, reducing its total holdings to 1,233,410 shares valued at approximately $193.3 million.

The fund's share decrease represents a 12.5% cut from its previous share count of 1,409,966. This adjustment reflects Smead's shifting strategy within its investment portfolio.

Other Institutional Activity in Target Corporation

Blackrock Inc. grew its holdings by 788,557 shares, ending with 38,699,974 shares worth about $5.97 billion. In contrast, State Street Corporation reduced its position by 1,439,590 shares, now holding 36,049,727 shares valued at roughly $5.56 billion. Vanguard Capital Management LLC added 235,270 shares, bringing its total to 29,644,004 shares worth about $4.57 billion. FMR, LLC increased its stake by 4,728,641 shares, ending with 24,630,329 shares valued at $3.80 billion. Vanguard Portfolio Management LLC added 192,410 shares, reaching a total of 22,057,164 shares worth about $3.40 billion.

Target Corporation Stock Down 1.1%

Target shares recently traded around $153.63, which is below its 50-day moving average of $157.34. The stock is also about 10% off its 52-week high of $170.75. Despite this recent drop, it remains significantly above its 52-week low of $83.44, indicating a strong performance during the past year.

Recent Earnings

For the trailing twelve months, Target reported revenue of approximately $107.7 billion and earnings per share (EPS) of $9.63. The company has seen a year-over-year revenue growth of 5.3%. Target's next earnings report is scheduled for November 18, 2026.

Insider Buying and Selling at Target Corporation

Insider trading activity included several sales prior to this filing. Lisa Roath, an Executive Officer, sold 7,000 shares on June 29, 2026, at an average price of $138.07, totaling about $966,490. Matthew A Liegel, an Officer, sold 926 shares on August 21, 2026, for approximately $151,410 at an average price of $163.51. Melissa K Kremer, another Officer, sold 15,500 shares on August 24, 2026, at an average price of $169.96, amounting to about $2.63 million. Brian C Cornell, the Officer and Director, sold 50,000 shares on August 25, 2026, for around $8.18 million at a price of $163.56.

Analysts Set New Price Targets

On August 20, 2026, Telsey Advisory Group maintained its "Outperform" rating, raising its price target to $182. Citigroup also kept its "Neutral" rating, increasing its target to $160, while Goldman Sachs maintained a "Neutral" rating with a target of $161. On September 30, 2026, HSBC upgraded its position on Target to "Buy" with a target price of $190. As of now, the consensus among analysts is a "Buy" rating with a mean price target of $163.35 based on 34 opinions.

About Target Corporation

Target Corporation operates as a general merchandise retailer in the United States. It offers a variety of products, including clothing, beauty products, household items, and groceries. The recent changes in stock ownership and analyst ratings suggest a dynamic market environment as Target continues to adapt to consumer demands.

Bottom Line

Investors should keep an eye on Target's upcoming earnings on November 18, 2026, and any further adjustments by Smead Capital Management or other large investors as the retail landscape evolves. This filing reflects holdings as of the reporting period and may not represent the investor's current position. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.