Dividend stocks that are trading at low valuations can be attractive buys for multiple reasons. The first is that if they are priced low, they may possess a lot of upside in the long run, giving you the potential to not only net a lot of dividend income but also some significant gains from them. Secondly, a discounted stock may also offer a higher-than-typical yield. Buying the stock before it rallies can allow you to lock in a better yield than if you wait; as the stock price rises, the yield declines.

Three dividend stocks that look like fantastic deals today are Target (TGT -2.07%), ExxonMobil (XOM -0.74%), and Village Supermarket (VLGEA -0.19%). Here's a look at their valuations, payouts, and why they may be worth adding to your portfolio today.

Target

Target has been among the most beaten-up retail stocks over the past year, losing 46% of its value over that stretch. As investors grow concerned about the economy and discretionary spending, Target, which relies heavily on discretionary purchases, has seen its valuation nosedive.

The good news, however, is that Target's business isn't in terrible shape. While sales may slow down and its profits may decline, the stock also has a payout ratio of just 50%; there's room for Target to absorb a hit to its bottom line and for its dividend to still remain safe. The retail stock is currently trading at an incredibly low price-to-earnings (P/E) multiple of less than 11, which is well below the S&P 500 average of 21.

It may be a while before Target's stock recovers, but buying and holding the stock could be a great move in the long run due to its low valuation and its high yield -- the stock currently pays 4.8% in dividends.

ExxonMobil

The price of oil has been declining recently, and unsurprisingly, shares of oil and gas giant ExxonMobil also haven't been doing well lately. It's down on a year-to-date basis, and in 12 months, the stock has declined by 12%. This isn't nearly on the same scale as Target's decline, but Exxon still looks like an attractively priced dividend stock. Currently, it's trading at a P/E ratio of less than 14.

The company will experience volatility in its financials due to the price of oil, but that hasn't stopped it from paying dividends; for 42 straight years, Exxon has increased its annual dividend. With a yield of 3.7%, it's a fairly attractive dividend stock to be hanging on to. However, investors should brace for some challenges ahead. Exxon's earnings were down by more than $2 billion in 2024 (representing a decline of over 6%), and 2025 could be another tough year if the price of oil doesn't recover.

If, however, you're willing to hang on amid the volatility that comes with owning an oil and gas stock, Exxon can make for an excellent long-term investment, particularly if you want a great dividend.

Village Super Market

One under-the-radar dividend stock you won't want to overlook is Village Super Market. It yields 2.9%, which is the lowest payout on this list, but it's still higher than the S&P 500 average of 1.5%. As its name suggests, it operates supermarkets, which can make it a safe investment to be holding today. While it has been rallying more than 8% this year, the stock still trades at a P/E multiple of just 9.

Village Super Market has a modest size with 34 supermarkets on the East Coast and a presence in New York, New Jersey, and Maryland. Over the company's past two quarters, sales have risen by 4% to around $1.2 billion, and net income has grown by 14% to $29.7 million.

Village Super Market is by no means a huge grocer in the country, but with good yield, strong financials, and a dirt-cheap valuation, this may be one of the better dividend stocks to buy right now.