Target Corporation is an American retail company that operates a chain of discount department stores and hypermarkets. It is not owned by a specific country but is headquartered in Minneapolis, Minnesota.
Target Corporation is an American retail company, not owned by a specific country. It is headquartered in Minneapolis, Minnesota, and operates its retail stores only within the United States. The company’s ownership is primarily dominated by institutional investors, and the general public owns approximately 18.6% of the company’s shares.
History and Origin of Target Corporation
Target Corporation traces its roots back to 1902 when George Dayton founded Goodfellow Dry Goods in Minneapolis. The company was renamed Dayton’s Dry Goods Company in 1903 and later became the Dayton Company in 1910. Target, the company’s first discount store, was established in 1962 as a subsidiary of the Dayton Company. The first Target store opened in Roseville, Minnesota. In 1969, the Dayton Company merged with the J.L. Hudson Company, forming the Dayton-Hudson Corporation. The parent company was eventually renamed Target Corporation in 2000.
Target’s Global Presence
Today, Target operates its retail stores only in the United States, with nearly 2,000 stores across the country. The company does not have any retail stores operating outside of the U.S. Although Target briefly opened stores in Canada a few years back, they have since closed. Target has a global capabilities center in Bengaluru, India, and over a dozen sourcing offices worldwide. While Target does not have physical stores in other countries, it offers an international version of its website, allowing people in more than 200 countries to shop online.
Ownership Structure of Target Corporation
The ownership structure of Target Corporation is primarily dominated by institutional investors, who control about 81.1% of the outstanding shares. Some of the top institutional shareholders include The Vanguard Group, SSgA Funds Management, Inc., Geode Capital Management LLC, and Franklin Advisers, Inc. Mutual funds own over 42% of Target, while other institutional investors own more than 39%. Individual insiders, including top-level executives within Target, hold a combined ownership stake of 0.3%. The general public owns approximately 18.6% of the company’s shares.
Key Stakeholders of Target Corporation
The current key stakeholders of Target Corporation include shareholders, board of directors, management, employees, customers, suppliers, government, and communities. Target Corporation regularly engages with these stakeholders to identify, understand, and validate key issues affecting its business.
Market Capitalization of Target Corporation
As of September 30, 2023, the market capitalization of Target Corporation is $51.04 billion. This value is derived from the total market value of the company’s outstanding shares and is commonly used to measure a company’s worth.
Impact of Country of Ownership on Target’s Business Practices
The country of ownership can impact Target’s business practices and strategies in several ways, including regulatory compliance, cultural adaptation, and international expansion. As a U.S.-based company, Target must comply with U.S. regulations and laws, such as import requirements, product safety, and labor policies. Its commitment to diversity, equity, and inclusion is influenced by its U.S. roots and the diverse communities it serves.
In conclusion, while Target Corporation is an American company, its operations and business strategies are influenced by a variety of factors, including its history, stakeholders, market capitalization, and the country of ownership.
Frequently Asked Questions
Who is the current CEO of Target Corporation?
The current CEO of Target Corporation is Brian Cornell. He has been serving as the CEO since August 2014.
Does Target Corporation operate any other retail brands?
Yes, apart from the Target stores, Target Corporation also owns and operates Shipt, an online same-day delivery platform, and Roundel, a digital advertising business.
What is the ticker symbol of Target Corporation in the stock market?
Target Corporation trades under the ticker symbol TGT on the New York Stock Exchange.
Does Target have an online shopping platform?
Yes, Target has an online shopping platform. Customers can purchase a wide range of products from their website and mobile app and have them delivered or picked up from a local store.
Does Target Corporation pay dividends to its shareholders?
Yes, Target Corporation has a history of consistently paying dividends to its shareholders. It is part of the S&P 500 Dividend Aristocrats, companies that have increased their dividend payouts for 25 consecutive years.