12 Best Consistent Dividend Stocks to Buy

6. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 56

Target Corporation (NYSE:TGT) is a Minnesota-based retail corporation that operates a chain of hypermarkets and discount department stores. The company differentiates itself from other discount retailers by balancing affordability with trend-driven merchandising and a strong portfolio of private-label brands. In addition to facing competition from Amazon, the company also contends with Walmart’s dominant market presence. Target operates over 1,956 physical stores across the United States, alongside a robust online platform.

Target Corporation (NYSE:TGT) is known for its diverse product selection, spanning apparel, electronics, and home goods. A significant share of its revenue is derived from its owned and exclusive brands, which not only offer unique products to consumers but also contribute to higher profit margins. With a well-integrated omnichannel strategy, Target ensures a seamless shopping experience across both in-store and online channels. More than 96% of its sales are fulfilled through its brick-and-mortar locations, allowing it to leverage its extensive store network as fulfillment hubs, strengthening its position against online-only competitors.

In fiscal year 2024, Target Corporation (NYSE:TGT) generated over $7.3 billion in operating cash flow. Its strong financial position enabled the company to distribute $513 million in dividends during the fourth quarter, slightly up from $508 million in the same period a year earlier. It offers a quarterly dividend of $1.12 per share and has a dividend yield of 4.31%, as of March 22. TGT has been gaining investors’ attention as it holds a 53-year streak of consistent dividend growth.