THIS BLUE-CHIP RETAILER CONTINUES TO TUMBLE
Today’s chart proves that even high-quality businesses sometimes go through rough patches…
We’re taking a close look at blue-chip retail titan Target (TGT). The $30 billion company is one of the top retailers in the U.S.
It also rewards shareholders, having increased its dividend every year for more than four decades.
But even Target isn’t immune to a pullback.
Earlier this year, it reported earnings that fell short of analyst expectations.
Facing increased competition from uber-successful online retailer Amazon (AMZN), Target’s fourth-quarter sales were weaker than expected.
As you can see from the following chart, investors have been running for the exits… Target shares are down nearly 25% through the first quarter of 2017 and are now trading at their lowest levels in nearly five years. After the selloff, the stock yields a huge 4.4%. But until Target shows it’s turning things around for the better, shares may continue to drift lower…
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Source: Daily Wealth’s Market Notes