17 MN companies make the Fortune 500 list – and one cracks the top 10

Target and Best Buy rank highly on the annual list, with Minnesota strongly represented.
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A Minnesota company has cracked the top 10 in Fortune's annual list of America's biggest companies.

The Land of 10,000 Lakes has 17 companies that make an appearance on the Fortune 500 list for 2016, the same number as the year before.

But one of the big movers is UnitedHealthcare. The Minnetonka-based health insurer has made it into the top 10 for the first time, ranking as the sixth biggest company in the country. A 20 percent revenue boost last year brought its total revenue to $157.1 billion, and profits to $5.8 billion.

The company's decision at the start of the year to leave most of the Affordable Care Act market for cost reasons appears to have paid off, with Fortune saying that for the insurance giant, going it alone "makes sense given its sheer size and the reach of its business."

Two retailers take up the next highest spots occupied by Minnesota companies, with Target dropping two places from last year to 38th overall, and Best Buy climbing up a place to 71st overall.

Regarding Target, Fortune says the retailer is "in the midst of an improbable renaissance," winning back shoppers "at one of the toughest times in recent retail history."

The magazine says the company "is flush with money to keep experimenting and reinventing itself for the new retail era," though it looks as though this excerpt was written before the company's recent Q4 results, which saw the Minneapolis retailer report lower than expected sales.

The Star Tribune reports the company has slashed a couple of its innovative plans since the results, including its Goldfish e-commerce project and its store of the future concept.

The Fortune 500 list was topped by Walmart, with revenues of $482.1 billion, followed by Exxon Mobil and Apple.

Here's where Minnesota companies ranked

Last year's positions are in parentheses.

6. UnitedHealthcare (14) – $157.1 billion revenue.

38. Target (36) – $73.7 billion.

71. Best Buy (72) – $39.74 billion.

84. CHS (69) – $34.58 billion.

93. 3M (98) – $30.2 billion.

131. U.S. Bancorp. (138) – $21.49 billion.

160. Supervalu (164) – $17.8 billion.

161. General Mills (171) – $17.6 billion.

206. Ecolab (213) – $13.5 billion.

208. C.H. Robinson Worldwide (225) – $13.4 billion.

215. Land O' Lakes (203) – $13.1 billion.

232. Ameriprise (247) – $12.2 billion.

257. Xcel Energy (255) – $11.02 billion.

304. Hormel Foods (310) – $9.26 billion.

316. Mosaic (320) – $8.89 billion.

318. Thrivent Financial for Lutherans (333) – $8.78 billion.

465. St. Jude Medical (466) – $5.5 billion.

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Fortune Global 500 list includes six Minnesota companies

UnitedHealth Group, Target, Best Buy, Supervalu, 3M and Inver Grove Heights-based CHS are among Fortune’s list of the biggest companies in the world. Twin Cities Business reports all the Minnesota companies were on the list last year, but dropped in this year’s annual ranking, expect for CHS, who jumped 97 spots.