Target shares slide despite Q1 beat as investors “sell the news” and focus on cautious tone

Target Corporation (TGT) is down 6.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The stock appeared to fall on a “sell-the-news” reaction after a strong run into earnings, even though the company posted a beat and raised its full-year sales outlook. Investors also seemed to focus on management’s guarded messaging and the fact that full-year EPS guidance was not raised, which can disappoint when expectations are elevated.

Details:

Target reported first-quarter net sales of $25.4 billion, up 6.7% year over year, with comparable sales up 5.6% (store comps +4.7%, digital comps +8.9%).

GAAP and adjusted EPS were both $1.71; management noted the year-ago quarter benefited from non-recurring legal settlement gains, which made the GAAP year-over-year comparison look weaker.

Full-year 2026 net sales growth outlook was increased to around 4%, while full-year GAAP/adjusted EPS guidance remained $7.50 to $8.50 (with expectations near the high end).

Investor reaction suggested profit-quality and forward-commentary mattered more than the quarterly beat, after the stock had rallied ahead of the report.

Sources:

Target Corporation (Investor Relations/Press Release), Associated Press, 24/7 Wall St.

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$TGT Insider Trading Activity

$TGT insiders have traded $TGT stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $TGT stock by insiders over the last 6 months:

MATTHEW A LIEGEL (Chief Accounting Officer) sold 2,053 shares for an estimated $240,593

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$TGT Hedge Fund Activity

We have seen 906 institutional investors add shares of $TGT stock to their portfolio, and 915 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

BLACKROCK, INC. added 3,138,056 shares (+9.0%) to their portfolio in Q1 2026, for an estimated $375,844,967
FMR LLC added 3,105,274 shares (+18.5%) to their portfolio in Q1 2026, for an estimated $371,918,666
FRANKLIN RESOURCES INC removed 3,099,531 shares (-50.0%) from their portfolio in Q1 2026, for an estimated $371,230,827
CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 3,057,726 shares (-17.9%) from their portfolio in Q1 2026, for an estimated $366,223,843
TOMS CAPITAL INVESTMENT MANAGEMENT LP removed 2,635,000 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $315,593,950
BALYASNY ASSET MANAGEMENT L.P. added 2,525,279 shares (+2995.2%) to their portfolio in Q1 2026, for an estimated $302,452,665
CITADEL ADVISORS LLC added 2,111,449 shares (+306.3%) to their portfolio in Q1 2026, for an estimated $252,888,246

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$TGT Analyst Ratings

Wall Street analysts have issued reports on $TGT in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Argus Research issued a "Buy" rating on 12/01/2025

To track analyst ratings and price targets for $TGT, check out Quiver Quantitative's $TGT forecast page.

$TGT Price Targets

Multiple analysts have issued price targets for $TGT recently. We have seen 21 analysts offer price targets for $TGT in the last 6 months, with a median target of $125.0.

Here are some recent targets:

Peter Keith from Piper Sandler set a target price of $121.0 on 05/15/2026
Christopher Horvers from JP Morgan set a target price of $129.0 on 05/15/2026
Scot Ciccarelli from Truist Securities set a target price of $123.0 on 05/13/2026
Edward Kelly from Wells Fargo set a target price of $140.0 on 05/12/2026
Seth Sigman from Barclays set a target price of $115.0 on 05/12/2026
Paul Lejuez from Citigroup set a target price of $133.0 on 05/06/2026
Greg Melich from Evercore ISI Group set a target price of $125.0 on 04/21/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.