Macy’s, Inc. (NYSE:M) Plans Quarterly Dividend of $0.19

Macy’s, Inc. (NYSE:M) announced a quarterly dividend on Friday, February 27th. Investors 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 4.3%. The ex-dividend date 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 raised 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. 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 Trading Down 1.9%

M traded down $0.34 during trading on Wednesday, hitting $17.65. The company’s stock had a trading volume of 2,429,134 shares, compared to its average volume of 7,096,200. Macy’s has a twelve month low of $9.76 and a twelve month high of $24.41. The stock has a market cap of $4.69 billion, a PE ratio of 10.48 and a beta of 1.51. The firm’s 50 day moving average price is $21.11 and its 200-day moving average price is $19.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18.

Insider Buying and Selling at Macy’s

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $23.92, for a total transaction of $2,033,200.00. Following the completion of the sale, the executive vice president owned 51,161 shares in the company, valued at approximately $1,223,771.12. The trade was a 62.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Strengthening Families & Communities LLC acquired a new stake in shares of Macy’s in the fourth quarter worth $28,000. V Square Quantitative Management LLC purchased a new position in Macy’s in the fourth quarter valued at about $29,000. Smartleaf Asset Management LLC raised its position in Macy’s by 51.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock valued at $34,000 after purchasing an additional 526 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Macy’s during the third quarter worth about $31,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Macy’s by 35.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock worth $41,000 after buying an additional 486 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

About Macy’s

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.