The New Year is upon us and with it, I am happy to announce my first purchase of the year. Originally I was going to wait and build up capital for a new company for my portfolio, but I couldn’t resist the opportunity. I purchased 9 shares of Target (TGT) at $67.40. This will add to my existing position in the company for a total of 27 shares. Below are some more company stats.
Annual Dividend: $2.40
Years Paying/ Increasing: 49 years
Dividend increase from prior year: 6.67%
Payout Ratio: 46.1%
P/E Ratio: 12.37
While this dividend aristocrat has been struggling as of late, and didn’t hit their Q4 sales numbers. I foresee it continuing to be a quality stock to hold for the long term. With an increasing dividend per year for the past 49 years and a growing younger demographic shopping crowd, we should see this stock turn up soon.
As shown above, TGT has a dividend yield of 3.56% or $2.40 annually. This will add another $21.60 to my yearly dividend income. What do you think of TGT? Do you have any other companies that are on your watch list? Have you purchased any other stocks so far this year?
*EDIT 1/20/2017 – I remembered today that I had some cash reserves from my last recent sell. So I took this opportunity to pick up a few more shares. I bought another 17 shares at $64.85, increasing my dividend per year by another $40.80.