5 Safest Stocks To Invest In

In this article, we discuss the 5 safest stocks to invest in. If you want to see more stocks in this selection, check out 12 Safest Stocks To Invest In. 

5. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 52

Target Corporation (NYSE:TGT), an American general merchandise retailer, is one of the top picks for a safe stock portfolio. Target Corporation (NYSE:TGT) is set to pay a $1.08 per share quarterly dividend on December 10, to shareholders of record as of November 16. Target Corporation (NYSE:TGT)’s dividend yield on December 1 came in at 2.61%. 

On November 21, Evercore ISI analyst Greg Melich reiterated an In Line rating on Target Corporation (NYSE:TGT) but trimmed the firm’s price target on the shares to $155 from $165. Target Corporation (NYSE:TGT) is “a share gaining multichannel retailer” and he is hopeful the company’s Q3 miss and guide-down “cleared the decks” and allowed for higher confidence that inventories will be back on track by January, the analyst told investors.

According to Insider Monkey’s Q3 database, 52 hedge funds were long Target Corporation (NYSE:TGT), compared to 46 funds in the prior quarter. Ken Fisher’s Fisher Asset Management held the biggest stake in the company, comprising 4.8 million shares worth $711.3 million. 

Here is what Carillon Tower Advisers specifically said about Target Corporation (NYSE:TGT) in its Q2 2022 investor letter:

“Target Corporation (NYSE:TGT) faced its worst day in decades after trimming its profit forecast for the year due to higher costs. While many of the cost pressures are likely to persist in the near term, the company also struggled with a shift in consumer spending, which resulted in inventory write-downs.”