Target Has Raised Its Dividend Through Every Market Crash Since 1971. Should Income Investors Still Buy It?

Target has maintained its dividend through 55 consecutive years and seven bear markets, demonstrating strong resilience. The retailer is experiencing a turnaround with 5% sales growth and 20% earnings growth in Q2, supported by higher-margin revenue streams like advertising. At a forward P/E of 16 and 2.8% dividend yield, the stock appears fairly valued for income investors, with a safe payout ratio of 46% of free cash flow.