Macy's Estimates Reduced at Citigroup (M)

Macy’s Estimates Reduced at Citigroup (M)

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Citigroup reported on Wednesday that they have reduced estimates for department store chain, Macy’s, Inc.(M).

Analysts from the firm reported that they have lowered the company’s price target to $39, and have given M a rating of “Neutral.” This price target suggests a slight increase from the stock’s current price of $38.83.

The firm has reduced its estimates for M due to a cautious outlook, and a higher level of promotions.

Macy’s shares were down 22 cents, or -0.57% during Wednesday morning trading. The stock is up 20% YTD.

Macy’s, which is known for its department stores, as well as their online store, provides consumers with a wide variety of products including: apparel, home goods, and furniture. In the latest quarter, Macy’s reported net income of $145 million with revenue of $6.08 billion.

Macy’s Dividend In Focus

Macy’s has paid out a dividend of 20 cents per share over the past three quarters , which represents a dividend yield of about 2.06%. The company, which previously paid a dividend of 10 cents per share, increased its dividend payout by 50% in 2012. Macy’s next dividend, which goes ex-dividend on Wednesday, is set to be paid on January 2 to shareholders of record on December 14. (view the Dividend.com Ex-Dividend Tool for information on all upcoming ex-dividend dates).

Recent Macy’s dividends include:

  • October 1, 2012: $0.20
  • July 2, 2012: $0.20
  • April 2, 2012: $0.20
Year Dividend ($M) Payout Ratio
2010 $338 24.1%
2011 $341 10.1%
2012 $339 12%

Macy’s vs. The Competition

Dividend.com has identified several dividend stocks that are in the same sector as Macy’s, including Dillard’s(DDS), Kohl’s Corporation[[KKS], and TJX Companies(TJX).

Ticker Company Yield DARS
M Macy’s 2.06% 3.3
DDS Dillard’s 0.24% 3.4
KKS Kohl’s Corporation 2.94% 3.3
TJX TJX Companies 1.08% 3.4

Use the Dividend.com screener to see all dividend-paying consumer goods stocks, or run other custom searches for dividend-paying stocks.

Shares of Macy’s (M) have a 2.06% dividend yield, based on last night’s closing stock price of $38.86

Macy’s, Inc.(M) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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