First purchase of the new year is in the books now! Like many I have been hanging on the sidelines, waiting for new opportunities to pop up in a fairly frothy market. Opportunity came a knocking in the last month and I pounced at the opportunity to add to a position of mine.
The following information represents key information I utilized in my purchase decision
The Purchase Facts:
Company Name: Target Corporation
Purchase Date: March 3, 2017
Purchase Price with Fee: $57.41
Shares Transacted: 35
Total Investment: $2,009.58
The Company Dividend Facts:
Dividend Per Share: $2.40
Purchase Dividend Yield: 4.18%
Payment Frequency: Quarterly
DividendStacker Dividend Facts:
Purchased in What Account? Brokerage Account
Previous Forward 12-Month Dividend: $329.01
New Purchase Dividend: $84.00
Account New Forward 12-Month Dividend Total: $413.01
Other Factors Considered:
Target Corp announced what many considered to be weak earnings and guidance recently. While this was true, the didn’t report great results, the market reaction to this report seems a little overblown. Many fear that Target will go the way of many before it, like K-Mart, etc. While this is certainly a risk, I think management will conduct a plan to remedy the short-term issues. Competition remains stiff from both Wal-Mart and Amazon, but Target is still making a lot of money and a lot of cash.
This purchase added to my previous Target position, I now own 60 shares of the company and it is close to a full position in my portfolio. If there is another drop to get it down around $50/share or below, I will probably make one more final purchase. For the time being, I am shooting for a full position to be around $5,000 invest, however this is obviously not a hardline number.
Anyone else jumping on Target? Or any other bargains in the market?
Disclosure: I am long TGT.