Macy’s, Inc. (NYSE:M) Plans Quarterly Dividend of $0.18

Macy’s, Inc. (NYSE:M) declared a quarterly dividend on Friday, October 24th. Investors of record on Monday, December 15th will be paid a dividend of 0.1824 per share on Friday, January 2nd. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, December 15th.

Macy’s has decreased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Macy’s has a dividend payout ratio of 38.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Macy’s to earn $2.44 per share next year, which means the company should continue to be able to cover its $0.73 annual dividend with an expected future payout ratio of 29.9%.

Macy’s Price Performance

NYSE:M traded up $0.18 during trading hours on Friday, reaching $24.18. 7,462,023 shares of the company traded hands, compared to its average volume of 7,848,463. Macy’s has a 1-year low of $9.76 and a 1-year high of $24.41. The stock has a market cap of $6.43 billion, a P/E ratio of 14.31 and a beta of 1.44. The firm’s 50-day moving average is $20.08 and its 200-day moving average is $15.83. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.22. The business had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.52 billion. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The business’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Equities research analysts expect that Macy’s will post 2.39 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Danielle L. Kirgan sold 85,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $23.92, for a total value of $2,033,200.00. Following the transaction, the executive vice president owned 51,161 shares of the company’s stock, valued at approximately $1,223,771.12. This trade represents a 62.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of M. Norges Bank bought a new stake in Macy’s during the 2nd quarter valued at $58,743,000. Schroder Investment Management Group lifted its stake in shares of Macy’s by 104.5% in the 2nd quarter. Schroder Investment Management Group now owns 9,627,790 shares of the company’s stock worth $112,260,000 after acquiring an additional 4,920,821 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Macy’s by 269.2% in the first quarter. AQR Capital Management LLC now owns 5,229,543 shares of the company’s stock valued at $65,683,000 after acquiring an additional 3,813,210 shares in the last quarter. Invesco Ltd. increased its stake in shares of Macy’s by 160.5% during the second quarter. Invesco Ltd. now owns 4,283,107 shares of the company’s stock valued at $49,941,000 after acquiring an additional 2,639,132 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in shares of Macy’s during the third quarter valued at approximately $44,362,000. 87.36% of the stock is owned by institutional investors and hedge funds.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.