Today I initiated a position in M.
- M: 150 shares @ $15.90 --- Yield 9.44%
Total capital invested is $1590.00 and will add $151.00 to my yearly dividends.
The past few years have not been kind to Macy's. Considering the stock has fallen from $83 all the way down to $15 and change, its struggles along with many other retailers are widely known.
This is an iconic brand and I hope that the restructuring plan resembles that of BBY and not BBBY.
Obviously this is a speculative purchase and I fully understand this company may join the ash heap with Sears and JC Penny. Time will tell.
In other news I'm still watching MO closely (7% yield), PFE (drastic fall recently) and WBA (down around 50% this past year).