10 Best Dividend Stocks to Buy for Retirement

6. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 62

Target Corporation (NYSE:TGT)  is an American retailer known for its chain of discount department stores and hypermarkets. The company has been making strides in several critical areas. Efforts to manage costs effectively have contributed to a 19% year-over-year increase in operating income. It continues to excel in its omnichannel strategy, with digital comparable sales rising 4.7% in the first quarter and same-day delivery sales through its membership program growing by 35%.

To enhance efficiency and responsiveness, management has launched a new enterprise acceleration office aimed at using technology and data to boost connectivity and agility across the organization. This initiative is designed to improve operational speed and functionality, further strengthening Target Corporation (NYSE:TGT)’s digital capabilities.

In addition, Target Corporation (NYSE:TGT)  is also grabbing investors’ attention due to its consistent dividend policy. In June this year, the company declared a 2% hike in its quarterly dividend to $1.14 per share. Through this increase, the company stretched its dividend growth streak to 54 years, which makes it one of the best dividend stocks for retirement. The stock has a dividend yield of 4.42%, as of July 30.