5 Best Department Store and Discount Retailer Stocks to Buy

In this article, we will be taking a look at the 5 best department store and discount retailer stocks to buy. To see more of these stocks, you can go directly to see the 10 Best Department Store and Discount Retailer Stocks to Buy.

5. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 48

Target Corporation (NYSE:TGT) is a general merchandise retailer operating in the US. It is based in Minneapolis, Minnesota.

Steven Shemesh, an analyst at RBC Capital, holds an Outperform rating on Target Corporation (NYSE:TGT) shares as of April 21.

Target Corporation (NYSE:TGT) generated revenues of $109,120 million in fiscal 2022, which represents an increase of 2.9% year-over-year. The company’s comparable sales grew by 2.2% over the same period. Analysts on Wall Street see Target Corporation (NYSE:TGT) as a Moderate Buy with 15 Buy ratings and 12 Hold ratings.

Our hedge fund data shows 48 funds long Target Corporation (NYSE:TGT) in the fourth quarter, with a total stake value of $1.7 billion.

Madison Investments, an investment advisor, mentioned Target Corporation (NYSE:TGT) in its first-quarter 2023 investor letter. Here’s what the firm said:

“Target Corporation (NYSE:TGT) reported a solid fourth quarter, exceeding expectations. Same store sales were positive with better-than-expected margins resulting in earnings for the quarter ahead of expectations. At the same time, Target provided guidance for 2023 that was below expectations, which sets them up to meet or exceed expectations after a difficult 2022. Target expects same store sales for 2023 to range from a low single digit decline to a low single digit increase, with operating margins in the 4.5% to 5% range. We continue to view Target as well positioned for long-term growth with its strong owned brand strategy and omnichannel offerings.”