Well new month and have a few dollars in my account so i decided to buy after long painful gut wrenching searching. Since i want to add to my investments and diversify i decided this time would be the diversification buy. It came down to a couple of really hard choices. what were they?
I have been looking at some stocks noticing some bloggers giving some attention to some and after research it looked like i was going to buy this one stock but sunday night a few more came into line so deciding was hard. the choice was VFC LB and HBI
Come monday morning it was basically a tossup but i went with HBI it isnt the glamour stock that the others are but it does need a superstar to do commercials. LOL
Fridays drop after management over estimated its earnings potential really put it in the buy zone for me. and it being down 10 percent for the year and about 30 percent off its highs seem to make it a good candidate for a rebound soon.
Now a little about HBI from the company description: Hanesbrands, Inc. is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of men’s and women’s basic apparel. It operates its business through the following segments: Innerwear; Activewear Direct to Consumer; and International. The Innerwear segment focuses on core apparel products, such as intimate apparel; men’s underwear; kids’ underwear and socks; marketed under various brands. The Activewear segment serves activewear and casual wear markets through its Hanes, Champion, Just My Size, and Duofold brands, where it sells products such as T-shirts and fleece to both retailers and wholesalers. The Direct to Consumer segment operations include its outlet stores and Internet operations. The International segment includes products that span across the Innerwear and Outerwear segments. The company was founded by J. Wesley Hanes in 1901 and is headquartered in Winston-Salem, NC.
It has been paying a dividend just a short time. It looks like they had a dividend cut recently but there was a split at that time so it was not a cut.
So I bought 51 shares of HBI at $1,005.43 including fees. this will add 30.6 dolars a year to my dividends. This brings my forward dividends to 2377.99.
Hopefully an oppurtunity presents its self in the next month or 2 add to this holding.
Have you bought anything Lately?
I am Long HBI