5 Value Stocks to Buy According to Joel Greenblatt

3. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 49   

Target Corporation (NYSE:TGT) is a general merchandise retailer. Regulatory filings show that the investment firm led by Joel Greenblatt owned 55,044 shares in the company at the end of the fourth quarter of 2021 worth $12.7 million, representing 0.41% of its 13F portfolio value. The fund slashed its stake in the company by 8% between October and December. 

On March 2, BMO Capital analyst Kelly Bania kept an ‘Outperform’ rating on Target Corporation (NYSE:TGT) and raised the firm’s price target on its shares to $295 from $275, highlighting that the shares look inexpensive and reflect the company’s “affordable luxury” proposition. 

Among the hedge funds being tracked by Insider Monkey, Florida-based GQG Partners is a leading shareholder in Target Corporation (NYSE:TGT) with 4.9 million shares worth more than $1.1 billion. 

In its Q2 2021 investor letter, Nelson Capital Management, an asset management firm, highlighted a few stocks and Target Corporation (NYSE:TGT) was one of them. Here is what the fund said:

“We added Target Corporation (NYSE: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 Corporation (NYSE:TGT) is an attractive holding.”