12 Best Grocery Store Stocks to Buy Now

5. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 56

Target Corporation (NYSE:TGT) is a retail giant that operates more than 2,000 discount department stores and hypermarkets across the US and Canada. It serves its customers, referred to as guests, an array of items, including everyday essentials, fashionables, differentiated merchandise at discounted prices, and general merchandise and food. Its merchandise categories span apparel and accessories, food and beverages, home furnishing and decor, and others.

In January, the company announced that it is focusing on its commitment to wellness, with plans to introduce more than 2,000 new items across multiple categories, including more than 600 Target exclusives. Furthermore, Target Corporation (NYSE:TGT) is expanding its men’s wellness range with new offerings, such as Dr. Squatch body care, additional products from Dwayne Johnson’s Papatui men’s care line, and a new men’s fragrance from the vegan brand Fin’ery.

In the first nine months of 2024, the company generated $4.07 billion in operating cash flow and held $3.4 billion in cash and cash equivalents by the end of the quarter. Target Corporation (NYSE:TGT) boasts a solid dividend history and a strong financial position, which enabled the company to return $516 million to shareholders through dividends.