Target has been in the news lately for all the wrong reasons. Starting with the cyber attack, data breach all the way until the CEO change, it has been a downward spiral ride for the company and the stock. The stock has taken a beating falling more than 8% YTD and more than 16% in the last year.
But I think the market has over-reacted and believe the company fundamentals are still solid. The company still has to replace the CEO and we will have to wait and see what direction the CEO will take related to all the issues on hand. But the stock is having a good yield now and with dividend raise expected next quarter, I believe it is a good investment.
I purchased 30 shares of TGT at $58.50 on 5/8/2014. TGT currently pays a dividend of $0.43/share which amounts to an yield of 2.94%. This purchase adds $51.60 to my annual dividend going forward.