In a significant portfolio shift, Steve Cohen's Point72 Asset Management completely sold off its stake in Target Corp. during the second quarter of 2026. The fund divested all 586,490 of its shares, which were valued at approximately $71.08 million at the end of the first quarter. This move reduced Point72's exposure to the major U.S. retailer to zero.
This trade information comes from a quarterly 13F filing, which discloses positions held as of June 30, 2026, meaning the trades occurred between April and June. During that period, analysts were generally constructive on Target, citing improving sales and traffic. The company later reported a 5.3% increase in net sales for the second quarter and a significant boost in earnings, partly due to tariff refunds.