Who owns target? A big competitor of the much-known Walmart, Target also does not fall short when it comes to offering goods of high quality. Every shopper finds what they need here at Target.
They have stores in all 50 states in the US, and 75% of the US citizens live within the range of 10 miles of a Target store. With 400 thousand employees, it is one of the largest retail stores in the US. However, who owns them? This article will help you find out all about Target and who owns them.
Find Out Who Owns Target In 2023
Currently, Target is under target. This may sound hilarious, But The Target Corporation owns Target. Target Corporation owns all the Target stores and the Subsidiaries of the target. It is the seventh-largest retail store in the US.
The company started in Dayton. The company was not always named Target. The previous company that owned Target was named Dayton Hudson Corporation. Dayton changed the name of the corporation.
They wanted to make it easier to identify the stores that were associated with them. That is why they changed the name of the company. The company is a publicly owned company. There are thousands of shares of the company. But the current CEO of the company is Brian Cornell.
Brian has been leading the company since 2014. So, I have given the answer to your query about who owns Target. Here are a few things about Target that you must know about –
Things You Should Know About Target
Target is a pretty old corporation and has been around for years. As a result, it has gained the popularity and the success we see now. There have been several changes to the company. A brief history is here to help you know more about who owns target and who owned it before.
How Did Target Originated?
Target originated in the historic year 1857, and the first owner of the company was George Draper Dayton. Mr. Dayton had a moral leaning toward the community, and he wanted to do something to help communities.
He wanted to become a minister. However, he ended up in the world of business. Dayton bought a few mortgages and became a bank president. As he started to accumulate experience, he looked for a place to start his own store.
He found Minneapolis was a promising enough place. There he founded the Dayton Foundation and helped the local community there. Soon he bought land and started his first store named Dayton’s Goods store.
There was only one department of the store when Dayton started. He had only willed to sell high-quality goods to people, and he got a huge base of customers as a result.
Who Owns Target: The First Owner
The company decided to change its name of the company in 1911. They simplified the name from Dayton Dry Goods Company to Dayton Company. It was meant for an easier understanding of the company and its branding.
But the company had to face lots of problems in 1920 following a decreased amount of customers, and the workers also went on strike. Then, the first owner of Target, Mr. Dayton, hired two commercialized planes creating history with the longest commercial flight.
This got the company good attention and publicity.
Who Owns Target: The Second Owner
Dayton had done much for the community as he wishes to. But he died from cancer at the age of 80. His philanthropic work was the main goal he aimed at.
After his death, his son George N. Dayton carried out his father’s dream. He planned to give away 5% of the pretax profit of the company to the community. At that time, this store was the second retailer in the world to do something like this for a community. George was the second owner of Dayton, now known as Target.
Who Owns Target: The Third Owner
After George N. Dayton, the store came to the hands of his son Donald C. Dayton. Although all the Grandsons of Draper Dayton eventually came to the key leadership position in the company as its president. Here are the names of the next presidents of the company –
- Wallace
- George II
- Kenneth
- Bruce
- Donald
- Douglas
Who Owns Target Stores Now?
Following different presidents and ownership, the company changed itself over the years. Dayton diversified its business and became larger as a store. But the most iconic shift for the company came in 2000.
The company changed its name to Target, and the parent company became The Target Corporation. Although they suffered an immense publicized breach in security, they pulled through in 2010 as they expanded in the urban market.
As of 2021, the target has acquired a $106 billion revenue. They have 1938 stores and 51 supply chain facilities across all 50 states of the US. If you ask who owns the target corporation in 2023, then I will say that the company is publicly owned. Target went public on October 18, 1967.
Surprising Facts You Should Know About Target
Here are some surprising facts you should know about Target –
Fact 1
George Dayton, the founder of Target, started the company by helping his church. During the great economic depression in 1893, the Westminster Presbyterian Church was burned down. The Church Congregation asked him if he could buy a space near the original church, helping them to start a new one. Dayton was inspired and built a six-story building on the property he had just bought.
Fact 2
The Dayton Company, later known as Target, was a multi-million dollar property after Dayton rented it out during the 1920s. He rented the entire six-story building to different customers using his business connection.
Fact 3
Target is the first employer in the US to offer retirement benefits to its employees. In the 1940s, they started donating 3% of Target’s taxable income to the Dayton Foundation.
Fact 4
Target increases its hourly wages every year continuously. In 2015, they had an hourly wage of $9, which they increased to $11 in 2017. They increased it to $13 in 2019.
Fact 5
Target was the corporation that developed the first fully enclosed shopping mall in 1956.
Frequently Asked Questions!! (FAQs):
So, those were the answers to your question. However, here are some additional queries and their accurate answers. You might find them informative.
Q1. Who Are The Shareholders Of Target?
Ans: There are many shareholders of Target Corporation. Here are a few names that hold a significant percentage of the company’s share – The Vanguard Group, Inc. has an 8.75% share, and BlackRock Fund Advisors has a 5.41% share. And SSgA Funds Management, Inc. has a 7.19% share.
Q2. Who Is Target’s Biggest Competitor?
Ans: The biggest competitor of Target Corporation is Walmart. They have 4743 stores of Walmart in the US, and there are also 5000 international subsidiaries to the company. Another major competitor of Target and Walmart is Amazon.
Q3. How Many Shares Of Target Are There?
Ans: The current average volume of the Target corporation is 4.81 million. This publicly owned company went public in 1967 and is one of the largest retail stores in the US.
Bottom Line
Who owns target? If you own a share of the target corporation, then you are also an owner of the company. There are 4.81 million shares of the company. Many large corporations own a large percentage of this company’s share currently. Also, the company had different owners throughout its history.
I hope that you have found the answer to your question. However, if there is any further query, you may ask us questions in the comment section.
Read More:
- Out In The Great Outdoors
- Exploring NYC In The Summer
- The 5 fastest growing trees you might have in your yard
As an expert in retail industry history and companies such as Target, I can confidently discuss various aspects highlighted in the article about Target's ownership, history, key figures, and competitors. My knowledge spans the evolution of Target from its inception to its present-day standing in the retail market.
Target Corporation, a prominent retail giant, traces its roots back to 1857 when George Draper Dayton founded the company. Initially named Dayton's Goods store, it aimed to offer high-quality goods to customers in Minneapolis. Over the years, the company underwent several name changes and transformations, eventually becoming Target Corporation.
The ownership of Target has evolved through generations of the Dayton family, starting with George Draper Dayton himself. His philanthropic values and community-centric approach were integral to the company's ethos. After George Dayton's tenure, his son George N. Dayton continued his father's legacy, emphasizing community support by allocating a percentage of profits for charitable purposes.
Successive generations of Dayton family members, such as Donald C. Dayton and other key figures like Wallace, George II, Kenneth, Bruce, Donald, and Douglas, have been instrumental in steering the company's growth.
In 2000, a significant shift occurred when the company rebranded as Target, reflecting its commitment to easier brand recognition. This transformation marked the emergence of The Target Corporation as the parent company. Despite facing challenges such as a highly publicized security breach, Target expanded into urban markets and continued to thrive, boasting significant revenue and a vast retail footprint across all 50 states by 2021.
Target went public in 1967, and as of 2023, it remains a publicly owned company with numerous shareholders. Notable shareholders include The Vanguard Group, Inc., BlackRock Fund Advisors, and SSgA Funds Management, Inc., holding substantial percentages of the company's shares.
Competitively, Walmart stands as Target's major rival, boasting a considerable number of stores across the US and internationally. Additionally, Amazon serves as a significant competitor in the retail space.
Furthermore, Target's historical contributions and milestones, such as George Dayton's support for rebuilding a church, the innovative rental strategy in the 1920s, pioneering employee benefits like retirement plans, consistent wage increases, and development of the first fully enclosed shopping mall, reflect its influential role in the retail industry's evolution.
Target's commitment to employee welfare, continuous innovation, and philanthropic initiatives have contributed to its enduring success and status as one of the largest and most influential retail corporations in the United States.
Should you have any further inquiries about Target, its ownership, history, or related aspects, please feel free to ask.
