10 Best Dividend Growth Stocks to Buy and Hold in 2024

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4. Target Corporation (NYSE:TGT)

3-Year Average Annual Dividend Growth Rate: 29.66%

Target Corporation (NYSE:TGT) ranks fourth on our list of the best dividend growth stocks to buy and hold in 2024. The retail chain company has raised its dividends for the past 52 consecutive years and its 3-year annual average dividend growth rate comes in at 29.66%. It currently pays a quarterly dividend of $1.10 per share and has a dividend yield of 3.09%, as of January 27.

At the end of Q3 2023, 58 hedge funds tracked by Insider Monkey owned stakes in Target Corporation (NYSE:TGT), up from 45 in the preceding quarter. The collective value of these stakes is over $1.3 billion. Among these hedge funds, Diamond Hill Capital was the company’s leading stakeholder in Q3.

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