Macy`s (M) Declares $0.17 Dividend
Macy`s said on May 31, 2023 that its board of directors declared a regular quarterly dividend of $0.17 per share ($0.66 annualized). Previously, the company paid $0.17 per share.
Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on July 3, 2023.
At the current share price of $15.41 / share, the stock's dividend yield is 4.29%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.99%, the lowest has been 1.78%, and the highest has been 22.50%. The standard deviation of yields is 2.91 (n=168).
The current dividend yield is 0.24 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.15. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
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What is the Fund Sentiment?
There are 921 funds or institutions reporting positions in Macy`s. This is a decrease of 4 owner(s) or 0.43% in the last quarter. Average portfolio weight of all funds dedicated to M is 0.15%, a decrease of 22.53%. Total shares owned by institutions increased in the last three months by 2.36% to 252,376K shares. 
The put/call ratio of M is 1.00, indicating a bearish outlook.
Analyst Price Forecast Suggests 45.65% Upside
As of June 1, 2023, the average one-year price target for Macy`s is 22.44. The forecasts range from a low of 12.88 to a high of $30.45. The average price target represents an increase of 45.65% from its latest reported closing price of 15.41.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Macy`s is 25,011MM, a decrease of 1.16%. The projected annual non-GAAP EPS is 4.10.
What are Other Shareholders Doing?
Arrowstreet Capital, Limited Partnership holds 10,550K shares representing 3.87% ownership of the company. In it's prior filing, the firm reported owning 10,576K shares, representing a decrease of 0.25%. The firm decreased its portfolio allocation in M by 21.86% over the last quarter.
Goldman Sachs Group holds 8,766K shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 5,836K shares, representing an increase of 33.42%. The firm increased its portfolio allocation in M by 21.33% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,391K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 8,229K shares, representing an increase of 1.93%. The firm decreased its portfolio allocation in M by 20.26% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 8,364K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 8,369K shares, representing a decrease of 0.06%. The firm decreased its portfolio allocation in M by 18.98% over the last quarter.
Newport Trust holds 7,785K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 7,776K shares, representing an increase of 0.12%. The firm decreased its portfolio allocation in M by 30.48% over the last quarter.
Macy`s Background Information
(This description is provided by the company.)
Macy's, Inc. is one of the nation's premier omni-channel fashion retailers. The company comprises three retail brands, Macy's, Bloomingdale's and Bluemercury. Macy's, Inc. is headquartered in New York, New York.
Key filings for this company:
This story originally appeared on Fintel.