Target Ends Company Stock Investments in Workers’ 401(k)

Target Corp. is no longer allowing its employees to invest their 401(k) withholdings in company stock.

In a form filed with the Department of Labor, Target said it had frozen all new 401(k) investments in Target Corp. stock as of June 22. As a result, Target employees are no longer able to invest additional 401(k) savings in Target stock.

The change doesn’t affect 401(k) money that’s already been invested in Target stock. As of 2016, the company’s 401(k) plan held more than $1.8 billion in Target stock—more than a quarter of the plan’s total assets.

This decision by Target is ...