Macy’s, Inc. (NYSE:M) to Issue $0.17 Quarterly Dividend

Macy’s, Inc. (NYSE:M) announced a quarterly dividend on Friday, October 25th,RTT News reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.1737 per share on Thursday, January 2nd. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Friday, December 13th.

Macy’s has increased its dividend by an average of 20.6% per year over the last three years. Macy’s has a payout ratio of 26.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Macy’s to earn $2.62 per share next year, which means the company should continue to be able to cover its $0.69 annual dividend with an expected future payout ratio of 26.3%.

Macy’s Trading Up 0.2 %

Shares of Macy’s stock opened at $16.76 on Wednesday. The firm has a 50-day simple moving average of $15.73 and a two-hundred day simple moving average of $16.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. Macy’s has a fifty-two week low of $14.06 and a fifty-two week high of $22.10. The company has a market cap of $4.65 billion, a P/E ratio of 26.18 and a beta of 2.11.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley reduced their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Argus upgraded Macy’s to a “hold” rating in a research note on Thursday, October 10th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.86.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.