The long lull in the IPO market is finally over. Shares of chipmaker Arm Holdings soared last week in their debut, and grocery maven Instacart (NASDAQ: CART) followed with a warm welcome this week as it went public. The grocery delivery specialist surged out of the gate, opening up 40% from its $30 IPO price at $42 per share.
If you're an income investor, you may have heard tales of mighty companies that have raised their payouts no matter the economic cycle. Target (NYSE: TGT), Coca-Cola (NYSE: KO), Kimberly-Clark (NYSE: KMB), AbbVie (NYSE: ABBV), Altria (NYSE: MO), Stanley Black & Decker (NYSE: SWK), and 3M (NYSE: MMM) are the seven companies that stand alone on the throne of large-cap Dividend Kings with a yield over 3%.
Target Corporation (NYSE:TGT), the American big box store, has been grappling with a significant drop in its stock value of nearly 20%, a downturn that began in spring 2022 and continued into 2023. This slump followed the company's decision to reduce its financial outlook twice within a span of three weeks.