Target (TGT) shares were up modestly on Wednesday after the retailer boosted its dividend, but Jim Cramer said the company is “problematic” for him.
“Target is very problematic for me because that is the company that I think really did poorly vs. Amazon (AMZN) ” with its latest quarterly results, he told TheStreet on Wednesday.
Target raised its quarterly dividend by 7.1% to 60 cents a share.
Including the increase announced Wednesday, 2016 is expected to be the 45th consecutive year that Target has boosted its annual dividend, according to a company statement.
Target shares were rising 0.32% to $68.46. The stock, however, is down nearly 6% in 2016.
Target is a holding in Jim Cramer’s Action Alerts PLUS Charitable Trust Portfolio.
“We own Target and I am not happy with Target,” Cramer said Wednesday. “They did not have a good [earnings] call.”
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