5 Best Buy-The-Dip Consumer Stocks to Consider

4. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 50

YTD Share Price Decline as of July 1: 38.62%

Target Corporation (NYSE:TGT) is one of the leading American retailers. 2022 marks the 51st consecutive year in which Target Corporation (NYSE:TGT) has raised its annual dividend. The shares have dropped about 39% year to date, which makes Target Corporation (NYSE:TGT) an attractive stock for dividend hunters. On June 10, Credit Suisse analyst Robert Moskow maintained an Outperform rating and a $180 price target on Target Corporation (NYSE:TGT), but lowered his FY22 EPS estimates to $8.59 from $13.56 after the company slashed its FY22 profit expectations. 

Among the hedge funds tracked by Insider Monkey, 50 funds reported owning stakes in Target Corporation (NYSE:TGT) at the end of the first quarter of 2022, up from 49 funds in the preceding quarter. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is the leading shareholder of the company, with 2.50 million shares worth $530.5 million. 

Here is what Nelson Capital Management has to say about Target Corporation (NYSE:TGT) in its Q2 2021 investor letter:

“We added Target (tkr: TGT) to our consumer staples sector. Target Corporation (NYSE:TGT) offers a broad array of products in owned and known brand items at affordable prices. Its omni-channel fulfillment centers allow customers to receive their items via in-store pickup, curbside pickup, same-day shipping and regular shipping while simultaneously reducing operating costs. With a significantly lower valuation than peers and a unique operating strategy, Target is an attractive holding.”