Macy’s (NYSE:M) Now Covered by StockNews.com

StockNews.com began coverage on shares of Macy’s (NYSE:M) in a research report released on Sunday. The brokerage issued a hold rating on the stock.

Other analysts also recently issued reports about the company. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research report on Wednesday, August 21st. Morgan Stanley decreased their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. Finally, Evercore ISI decreased their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.43.

Macy’s Trading Down 0.1 %

Shares of M stock opened at $15.07 on Friday. The business’s fifty day moving average price is $15.35 and its 200 day moving average price is $17.01. Macy’s has a 1-year low of $10.99 and a 1-year high of $22.10. The firm has a market capitalization of $4.18 billion, a PE ratio of 23.54 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. Macy’s’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Macy’s will post 2.72 EPS for the current fiscal year.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.1737 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.61%. Macy’s’s dividend payout ratio is currently 107.81%.

Hedge Funds Weigh In On Macy’s

Institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in Macy’s in the third quarter valued at $35,000. Venturi Wealth Management LLC increased its stake in Macy’s by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after acquiring an additional 1,685 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Macy’s during the third quarter worth about $39,000. EntryPoint Capital LLC acquired a new stake in Macy’s during the first quarter worth about $51,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Macy’s during the second quarter worth about $57,000. 87.36% of the stock is currently owned by institutional investors and hedge funds.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.