On July 16th I published an article on Seeking Alpha about Flowers Foods. Then on August 10th I added Flowers Foods to my Watch List. Even though I had added the company to my watch list I knew that there was a lot of volatility around the stock. So I was patiently waiting for the right time. Earlier this week Flowers Foods released their earnings report and it disappointed a lot of investors. For me though I decided that the time was finally right.
I am now able to remove Flowers Foods off my Watch list because I acquired 32 shares of the company. This worked out to a cost basis of $15.63 per share. I know that there is still plenty of volatility around the company and that the share price may go lower but I think it is a great company that will prove to be a great holding for me over the long term. All of the reasons that I stated in my Seeking Alpha article still stand true so I see no reason to rehash it all here. If your interested you can just click the link above to go read the article. If the share price does drop more I would be very happy to acquire more shares at a cheaper cost basis.
Also I updated my Portfolio page to reflect the addition and I will be updating my Dividend Income page very soon.
What do you guys think? Did I make a good purchase? Have you been thinking about picking up some shares? Please leave me some comments below and let me know what you think?