To commence, retail stocks refer to the shares of publicly traded companies that operate in the retail industry. This industry encompasses a wide range of businesses, including department stores, specialty retailers, online marketplaces, and more. The performance of retail stocks is heavily influenced by consumer spending patterns. Which in turn are affected by factors such as income levels, unemployment rates, and overall economic conditions.
Investing in retail stocks can provide investors with exposure to the consumer sector, which is a key driver of economic growth. However, the retail industry is highly competitive, with many companies vying for market share, and as a result, it can be challenging to predict which companies will perform well in the long term.
Some retail companies have struggled in recent years due to increased competition from online retailers, while others have been able to adapt and thrive in this new landscape. As with any investment, it’s important to carefully research individual companies and consider their financials, growth prospects, and other key factors before making a decision to invest. With this in mind, here are three retail stocks for your February 2023 stock market watch list.
Retail Stocks To Watch Today
Target Corporation (TGT Stock)
First up, Target Corporation (TGT) is a large American retailer offering a wide range of products including clothing, electronics, home goods, and groceries. It operates over 1,800 stores in the US and has a strong online presence, making it a major player in the retail industry.
Just this month, Target announced that its board of directors has declared a dividend of $1.08 per common share for the first quarter of 2023. The dividend will be paid on March 10th, 2023 to shareholders who are on record as of February 15th, 2023. This will mark the company’s 222nd consecutive dividend payment since it went public in October 1967.
Since the start of 2023, shares of Target stock have rebounded by 12.94% year-to-date. Meanwhile, on Wednesday afternoon, TGT stock is trading modestly lower on the day by 0.45% at $171.36 a share.
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Verizon Communications (VZ Stock)
Next, Verizon Communications (VZ) is a telecommunications company offering wireless and broadband services, as well as content and media. With a large customer base and a solid reputation for reliability, Verizon is one of the largest and most well-established players in the telecommunications industry.
Last week, Verizon reported its earnings for the quarter ending December 2022. In detail, the company earned $1.19 per share on revenue of $35.3 billion, slightly missing the consensus estimate of $1.20 per share on revenue of $35.4 billion. Despite this, revenue still grew by 3.5% compared to the previous year. Moving forward, Verizon Communications has provided its earnings outlook for 2023, expecting to earn between $4.55 and $4.85 per share. This is slightly lower than the current consensus estimate of $5.00 per share for the year ending December 31, 2023.
Year-to-date, Verzin stock is up 3.32% so far in 2023. Moreover, during Wednesday’s early afternoon trading action, shares of VZ stock are trading slightly lower on the day by 0.29% at $41.45 a share.
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Walmart (WMT Stock)
Lastly, Walmart Inc. (WMT) is the world’s largest retailer, operating over 11,000 stores in 27 countries. The company offers a wide variety of products, including groceries, clothing, electronics, and home goods, and has a strong online presence through its website and delivery services.
Last month, Walmart announced it has reached settlement agreements with all 50 states and other US territories to resolve opioid-related lawsuits against the company, exceeding the required minimum of 43 states by December 15, 2022. The settlement framework is valued at $3.1 billion and will provide aid to communities affected by the opioid crisis, although Walmart disputes the allegations and this settlement does not include any admission of liability. The company will continue to defend itself against any unresolved lawsuits.
Over the last six months of trading action, shares of WMT stock have gained by 8.15%. Furthermore, on Wednesday Walmart stock is trading red on the day by 0.37% at $143.34 a share.