Did you eat your Wheaties today? Personally I sorta like Lucky Charms. I know my mom really likes Rice Chex. I guess none of us bought enough of this stuff in the last quarter. That or the Pillsbury Dough Boy went out on strike.
Bam; haters out. GIS down 3.5%. Boo hoo hoo.
I consider this totally boring company a core holding and I already have a full GIS position acquired in five buys since mid December. My current cost basis is 4% below the now-lower price so buying today will actually increase my average cost.
Hmm; what to do. Not hard. Time to buy. GIS is one of the most amazing DGI companies on the planet. I was able to purchase a block at $51.80.
Although today's buy increased my average share price to $50.14, I think the $1.90 discount -- which, by the way, is more than an entire year's dividends handed to me in a single day -- is a reasonable trade.
In addition, GIS will provide a $0.41 dividend on 8/1.
Now go back to sleep dear GIS. You are one damn boring stock. I like you that way. Keep it up; stop being so assertive and showoffy.
Maybe I'll have some Yoplait for lunch or go all out and enjoy some Häagen-Dazs tonight.
Disclosure: The author is long GIS.