Target, 3M among Minnesota companies on Fortune's 'most admired' list

Target was the top Minnesota company, ranking at 22nd.
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Multiple Minnesota-based companies were recently featured on a list of Fortune’s most admired companies in 2020.

Ten total Minnesota companies made the list of more than 300, including Target and 3M, both headquartered in the Twin Cities.

Fortune selects companies based on a survey of almost 3,800 executives, directors and analysts. The list looks at the top U.S. companies by revenue and global companies with revenues of at least $10 billion.

For the 13th straight year, Apple claimed the top rank.

Target was the highest-ranking Minnesota company at 22nd, up ten places from last year. In 2018, the target had a total revenue of more than $75 billion, according to its financial report. But the recent holiday season did not go as the company had planned, with sales up only 1.4 percent after previous quarterly growth.

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3M was the next Minnesota company on the list at 29th, down two spots from last year. The company’s 2018 revenue came in at around $32.7 billion, according to Fortune. In April, the company announced it could cut 2,000 jobs globally following a decrease in sales.

Best Buy came in at 83rd, with C.H. Robinson Worldwide, Ecolab, Fastenal, General Mills, U.S. Bancorp, UnitedHealth Group and Xcel Energy following, respectively. 

Best Buy ranked as the No. 1 "most admired" company in the "speciality retailers" category, while UnitedHealth – in 307th overall – was the most admired in "health care: insurance and managed care."

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