Target recently announced a 1.8% increase to its quarterly dividend, raising it to $1.12 per share or $4.48 per year. This marks the 53rd consecutive dividend raise and the 228th consecutive dividend paid by the company.
Target's stock has fallen by 13% in the past three months.
In fiscal 2021, Target's profit reached an all-time high of $6.95 billion, driven by investments in curbside pickup and e-commerce, which helped the company overcome challenges with in-store shopping.