For my first purchase of 2014 I chose Target. I added 70 new shares to the 75 shares I currently own.
Purchase price: $59.98 x 70 = 4198.60 YOC is 2.87%
This will add $120.40 to my yearly dividend income.
My forward taxable dividend income is now 8906.04
I may be trying to catch a falling knife here, but I like the long term prospects for this company. I was hoping to add a new company this month and still may. I am watching CLX, COP, MCD, WMT, RDS-B, and PFE.
TGT is a great company and I expect them to do just fine. I know they've been hit with a lot of negative news to end 2013 but in the long run I see these as short-term hiccups. Nice purchase here.
ReplyDeletePIP,
DeleteThanks for stopping by. I think most of the issues will be resolved and eventually forgotten. There have definitely been bigger crises such as the Tylenol scare in the 80's and the oil spills (both BP and Exxon). Once the emotion wears off, cooler heads will prevail and Target should bounce back.
DP
Great buy! I think Target is at a good price and I'll continue buying shares if the prices stay here or go lower. As PIP mentioned, I think the negative news (CC breach and slower Canadian penetration) is just temporary.
ReplyDeleteAAI,
DeleteThanks for the comment. Target may drift lower and if so I will buy more. It is very difficult trying to find value in this market. Most of the value seems to stay in REITS, tobacco, oil, and now retailers. I like my entry yield here and more importantly I like Targets business model going forward.
It’s a good buy in the long run as the prospects are good.
ReplyDeleteMost Bought Stock