Target Has Raised Its Dividend Through Every Market Crash Since 1971. Should Income Investors Still Buy It?
This is a durable retailer building momentum.
Overview
Target (NYSE: TGT) has raised its dividend for 55 consecutive years, spanning seven bear markets (a market drop of at least 20% from peak to trough) and multiple recessions. That's the kind of resiliency that income investors love to see.
The stock has climbed about 69% since the beginning of the year and no longer looks cheap on a price-to-earnings (P/E) basis. But that rebound is backed by real progress in sales and profitability, which in turn supports the dividend. With the stock still yielding about 2.8%, it could still be a solid buy, considering the turnaround underway in the business.
Image source: Target.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.