Macy’s, Inc. (M) to Issue Quarterly Dividend of $0.17 on January 2nd

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

Macy’s has increased its dividend payment by an average of 20.6% annually over the last three years. Macy’s has a dividend payout ratio of 26.6% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 0.2 %

NYSE M opened at $16.76 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. Macy’s has a 12 month low of $14.06 and a 12 month high of $22.10. The stock’s 50 day moving average is $15.73 and its 200 day moving average is $16.53. The stock has a market cap of $4.65 billion, a PE ratio of 26.18 and a beta of 2.11.

Analysts Set New Price Targets

M has been the topic of a number of research reports. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Morgan Stanley cut their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Macy’s currently has an average rating of “Hold” and a consensus price target 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.