1 Incredible Reason to Buy This Dividend Stock Before Oct. 14

At the end of August, a federal appeals court ruled that the Trump administration did not have the unilateral authority to impose most of its controversial tariffs. Nevertheless, the court granted a stay on the levies until at least Oct. 14. The administration is pushing the Supreme Court to hear its appeal of the ruling. Many American companies have been affected by the tariffs. One beaten-down retail stock that's taken quite a hit, given its active importing activity, is Target (TGT 0.44%). Given that, it looks to be quite the bargain buy ahead of the day when, and if, that tariff takedown starts to take effect. Targeted by tariffs Target was a favorite retail stock for years, as it often posted outsized growth on both the top and bottom lines. It did particularly well during the shut-in pandemic period. Image source: Getty Images. Lately, though, rising prices have spooked American consumers, leading them to shrink their spending. Target sells must-haves like groceries, but also many other goods -- electronics, for example -- whose purchase can be postponed for less nervy economic times. Those frequently unpredictable tariffs are only exacerbating the situation. Target's recent performance reflects the pressures on its business. For three quarters in a row now, it has posted year-over-year declines in revenue. The market is also getting used to seeing bottom-line erosion; headline net income dipped by a queasy 21%-plus in the latest reported frame. A high-yield dividend...for now And yet, in an admirable steady-as-she-goes move in this turbulent era, Target has maintained and even increased its quarterly dividend. It now stands at $1.14 per share, for a sky-high yield of 4.9%, more than triple the 1.2% average of all stocks on the benchmark S&P 500 index. If the tariff ruling stands and the levies melt away in mid-October, both Target and the American consumer's budget should see quick improvements. With that, the company's share price will surely bounce back too. I'd snag this now high-yield dividend stock while its price is appealingly low.