The Dividend Daily

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

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).

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.