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Top Ranked Dividend Stock TGT is Oversold

By Dividend Channel Staff, Thursday, January 5, 11:32 AM ET
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The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics strong fundamentals and a valuation that looks inexpensive. Target Corp (NYSE:TGT) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.

But making Target Corp an even more interesting and timely stock to look at, is the fact that in trading on Thursday, shares of TGT entered into oversold territory, changing hands as low as $47.25 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Target Corp, the RSI reading has hit 25.0 by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 56.0. A falling stock price all else being equal creates a better opportunity for dividend investors to capture a higher yield. Indeed, TGT's recent annualized dividend of 1.20/share (currently paid in quarterly installments) works out to an annual yield of 2.40% based upon the recent $50.00 share price.

A bullish investor could look at TGT's 25.0 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on TGT is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.

TGT Dividend History
Date Div*
11/14/11 0.300
08/16/11 0.300
05/16/11 0.250
02/14/11 0.250
11/17/10 0.250
08/18/10 0.250
05/18/10 0.170
02/17/10 0.170
11/18/09 0.170
08/18/09 0.170
05/18/09 0.160
02/18/09 0.160
11/18/08 0.160
05/16/08 0.140
02/15/08 0.140
11/16/07 0.140
08/16/07 0.140
05/16/07 0.120
02/15/07 0.120
11/16/06 0.120
08/16/06 0.120
05/17/06 0.100
02/15/06 0.100
11/16/05 0.100
08/17/05 0.100
05/18/05 0.080
02/16/05 0.080
11/17/04 0.080
08/18/04 0.080
05/18/04 0.070
02/18/04 0.070
11/18/03 0.070
08/18/03 0.070
05/16/03 0.060
02/18/03 0.060
11/18/02 0.060
08/16/02 0.060
05/16/02 0.060
02/15/02 0.060
11/16/01 0.055
08/16/01 0.055
05/16/01 0.055
02/15/01 0.055
11/16/00 0.055
08/16/00 0.055
05/17/00 0.050
02/16/00 0.050
11/17/99 0.050
08/18/99 0.050
05/18/99 0.050
02/17/99 0.050
11/18/98 0.045
08/18/98 0.045
05/18/98 0.045
02/18/98 0.045
11/18/97 0.045
08/18/97 0.040
05/16/97 0.040
02/18/97 0.040
11/18/96 0.040
08/16/96 0.040
05/16/96 0.037
02/15/96 0.037
11/16/95 0.037
08/16/95 0.037
* Data may be adjusted for splits; we are not responsible for data errors; always verify data with the company.

According to the ETF Finder at ETF Channel, TGT makes up 4.43% of the Retail ETF (AMEX:RTH) which is trading lower by about 1% on the day Thursday.

See what other ETFs contain TGT
See what other stocks are held by RTH

TGT operates in the Department Stores sector, among companies like Kohl's Corp. (NYSE:KSS) which is off about 2.1% today, and Macy's Inc (NYSE:M) trading up by about 0.4%. Below is a three month price history chart comparing the stock performance of TGT, versus KSS and M.

TGT,KSS,M Relative Performance Chart


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