March comes in like a lion and what a month it has been. While I haven't had a chance to do much of any writing at all for the blog, I've still been moving forward with the dividend scythe mission. For this month's purchase, I decided that instead of moving outwards with new acquisitions, I'd rather add more into an existing position while the pot was cold.
After a quick look through the portfolio for deals to see what was down and priced to buy, I found that Target (TGT) was in the best position to grow outwards. That being said, I added a few more shares to try to buffer the loss of GNC's dividend cut while I wait for what I expect to be a rebound. And even though from what I read, there may never be a rebound for GNC, I believe that it is positioned to do so and I'm willing to bet what I have left in the company to ride it out.
And really, that's what it's all about when it comes to investing. With any company, there comes risk of failure of that company. Every time we bet on a winner, that bet could also be a big loser. You can't win if you never play the game. Only time will tell whether I'm right with GNC. I just hope it's sooner rather than later so that I can sell higher than I bought in and reinvest the earnings into a better dividend paying company.
Purchase Summary
BUY: 25 TGT @ 53.36/share
Total Purchase: $1,341.07
Additional Annual Dividends: $60
You aren't alone in picking up TGT. Many of our fellow bloggers have been doing the same especially with that yield well over 4%. Thanks for sharing.
ReplyDeleteIt's hard to ignore a big player like TGT when the price is so attractive.
DeleteNice buy. That price is very attractive right now. And looks like you picked up some at the perfect time, right before the price jumped up a few dollars more. Nice yield, that will help your passive income grow faster.
ReplyDelete