Citigroup reported on Wednesday that they have reduced estimates
for department store chain, Macy's, Inc.(
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
, 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
for information on all upcoming ex-dividend dates).
Recent Macy's dividends include:
October 1, 2012:
July 2, 2012:
April 2, 2012:
Macy's vs. The Competition
Dividend.com has identified several dividend stocks that are in
the same sector as Macy's, including Dillard's(
), Kohl's Corporation[[KKS], and TJX Companies(
to see all dividend-paying consumer goods stocks, or run other
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Shares of Macy's (
) have a 2.06% dividend yield, based on last night's closing stock
price of $38.86
) 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
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