PM vs TGT: Which Is the Better Dividend Stock?
As of September 2026, PM and TGT are closely matched. PM offers the higher yield at 3.12%, TGT has the higher dividend-safety score, and PM trades at the larger discount to fair value (-8%).
| Metric | PM | TGT |
|---|---|---|
| Forward yield | 3.12% | 2.93% |
| Annual dividend | $5.88 | $4.64 |
| Payout ratio | 81% | 47% |
| Years of growth | 13 yr | 42 yr |
| 5-yr dividend growth | 3.5% | 11.0% |
| 5-yr total return | 100% | -39% |
| Dividend safety score | 72 (B) | 93 (A) |
| Fair value estimate | $173.38 | $132.75 |
| Upside to fair value | -8% | -16% |
| Frequency | quarterly | quarterly |
| Market cap | $294.0B | $71.9B |
| P/E ratio | 25.9 | 16.4 |
Higher yield
PM
3.12%
Safer dividend
TGT
Grade A
Faster growth
TGT
11.0%
Better value
PM
-8% upside
PM vs TGT — FAQ
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