Macy’s, Inc. (M) To Go Ex-Dividend on March 13th

Macy’s, Inc. (NYSE:M) announced a quarterly dividend on Friday, February 27th. Shareholders of record on Friday, March 13th will be paid a dividend of 0.1915 per share on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, March 13th. This is a 5.0% increase from Macy’s’s previous quarterly dividend of $0.18.

Macy’s has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Macy’s has a dividend payout ratio of 40.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Macy’s to earn $2.44 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 31.1%.

Macy’s Stock Down 2.4%

Shares of M traded down $0.44 during mid-day trading on Wednesday, reaching $17.55. The company had a trading volume of 3,374,036 shares, compared to its average volume of 7,128,387. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.18 and a current ratio of 1.25. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 10.40 and a beta of 1.51. The firm has a 50-day moving average price of $21.11 and a 200 day moving average price of $19.92. Macy’s has a 52 week low of $9.76 and a 52 week high of $24.41.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on M shares. TD Cowen restated a “hold” rating on shares of Macy’s in a report on Thursday, December 4th. Citigroup restated a “neutral” rating on shares of Macy’s in a research note on Wednesday, February 18th. Zacks Research downgraded Macy’s from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Jefferies Financial Group started coverage on Macy’s in a report on Wednesday, January 14th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Macy’s in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $20.00.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.