Target (TGT) is among the largest retail companies globally, valued at a market cap of $71.4 billion. In the last 20 years, Target stock has returned 202% to shareholders after adjusting for dividend reinvestments. Comparatively, the S&P 500 Index ($SPX) has gained more than 600% in this period, on a dividend-adjusted basis.
After trading at all-time highs in late 2021, Target stock is down 42% from record levels. Over the last three years, the big-box retailer has wrestled with a range of macro headwinds, including elevated interest rates, inflation, slower consumer spending, and a sluggish economic environment.
