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).
While it isn't my cup of tea, you at least have the right mindframe with this purchase. There is a lot of risk, but a lot of reward. You clearly accepted it and are ready to roll. Best of luck MDP!ReplyDelete
Definitely understand your line of thinking. I'll probably couple this purchase with some MMM, WBA, or PFE just to balance things out a bit.