5 Best FMCG Stocks To Buy Now

3. Target Corporation (NYSE: TGT)

Number of Hedge Fund Holders: 66

Ranking 3rd on the list of 11 best FMCG stocks to buy now is Minnesota-based American retails giant Target Corporation (NYSE: TGT). The company first opened its discount store in 1962. Today, Target Corporation (NYSE: TGT) has over 1,844 stores throughout the United States.

In 2020, Target Corporation (NYSE: TGT) announced plans of acquiring same-day delivery tech Deliv. Target will use Deliv in its research and development efforts to improve the delivery process.

Baird analysts raised the price target of Target Corporation (NYSE: TGT) to $285 per share from $250 per share on August 19th and kept his Outperform rating on the stock.

The company has a market cap of $123.65 billion and currently offers a dividend yield of 1.43%. In the second quarter of 2021, Target Corporation (NYSE: TGT) reported an adjusted EPS of $3.64, beating estimates by $0.11. The company’s second-quarter revenue came in at $25.16 billion, up 9.5% year-over-year and beating estimates by $127.88 million. Shares of Target Corporation (NYSE: TGT) gained 40.25% year-to-date and 62.62% in the last twelve months.

Nelson Capital Management mentioned Target Corporation (NYSE: TGT) in its Q2 2021 investor letter:

“We added Target (tkr: TGT) to our consumer staples sector. Target offers a broad array of products in owned and known brand items at affordable prices. Its omnichannel 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.”