5 Best Discount Retailer Stocks to Buy

4. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 58

Target Corporation (NYSE:TGT) is a general merchandise retailer based in Minneapolis, Minnesota. It operates a chain of discount department stores and hypermarkets.

Gordon Haskett’s Chuck Grom holds a Buy rating and a $170 price target on Target Corporation (NYSE:TGT) as of February 7.

In total, 58 hedge funds held stakes in Target Corporation (NYSE:TGT) in the third quarter, with a total stake value of $1.3 billion.

Madison Investments mentioned Target Corporation (NYSE:TGT) in its fourth-quarter 2023 investor letter:

“Target Corporation (NYSE:TGT) reported a solid third quarter with strong gross margin recovery despite slower traffic and sales. Gross margins rebounded from last year’s discounting and cost efficiencies. Same store sales were down -4.9% with traffic down -4.1%. Investors liked the strong margin recovery but will look for improving sales trends.”

Follow Target Corp (NYSE:TGT)