If You Invested $500 in Target's IPO, This Is How Much Money You'd Have Now
Target (NYSE: TGT) was founded in 1881 in Minneapolis. It was originally called the Dayton Dry Goods Company, named after founder George Draper Dayton. Through the first half of the 20th century, Target operated as a department store and never ventured outside of Minneapolis.
Things changed in the 1950s. The growth of the American suburbs provided an opportunity to expand. By 1960, management of the Dayton Company (now Target) considered opening discount stores for the mass market to take advantage of a growing economy.
The first Target store was opened outside of Minnesota in Denver in 1966. Today, Target has more than 1,800 stores that generate $77 billion in revenue. The company's growth has translated to solid returns for investors.
Source Fool.com