Redditors Recommend These 5 Dividend Stocks for College Students

4. Target Corporation (NYSE:TGT)

Dividend Yield as of August 16: 2.37%

An American big-box store company, Target Corporation (NYSE:TGT) has improved its grocery margins over the years and has a decent grocery section online. The company holds one of the longest track records of dividend growth, raising its dividends consistently for the past 51 years. It pays a quarterly dividend of $1.08 per share and has a dividend yield of 2.37%, as recorded on August 16.

In Q1 2022, Target Corporation (NYSE:TGT) reported a 22.9% year-over-year growth in its comparable sales and a 50.2% growth in its digital comparable sales. The company ended the quarter with over $1.1 billion available in cash and cash equivalents, with total assets standing at over $50.8 billion. It paid $424 million to shareholders during the quarter, up from $340 million paid during the same period last year.

In August, JPMorgan lifted its price target on Target Corporation (NYSE:TGT) to $190 with an Overweight rating on the shares, expecting the company to report solid Q2 earnings.

Target Corporation (NYSE:TGT) was a part of 50 hedge fund portfolios in Q1 2022, up from 49 in the previous quarter, as shown by Insider Monkey’s database. These hedge funds owned stakes worth nearly $3 billion in the company. Jim Simons, Israel Englander, and Ken Griffin were some of the company’s major stakeholders in Q1.