Macy’s, Inc. (NYSE:M) Given Consensus Rating of “Hold” by Brokerages

Shares of Macy’s, Inc. (NYSE:M) have been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $20.43.

M has been the topic of several recent research reports. Argus upgraded Macy’s to a “hold” rating in a report on Thursday, October 10th. Morgan Stanley dropped their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. Finally, StockNews.com initiated coverage on shares of Macy’s in a research note on Sunday, November 10th. They issued a “hold” rating for the company.

Macy’s Price Performance

NYSE:M opened at $14.57 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The stock has a market cap of $4.04 billion, a P/E ratio of 22.77 and a beta of 2.11. The company has a fifty day moving average price of $15.42 and a 200 day moving average price of $16.88. Macy’s has a one year low of $14.06 and a one year high of $22.10.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. Analysts anticipate that Macy’s will post 2.72 earnings per share for the current year.

Macy’s Announces Dividend

The company 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 dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.77%. Macy’s’s dividend payout ratio is currently 107.81%.

Institutional Trading of Macy’s

A number of institutional investors have recently made changes to their positions in M. Virtu Financial LLC bought a new stake in Macy’s during the third quarter worth about $594,000. Geode Capital Management LLC raised its stake in shares of Macy’s by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after purchasing an additional 128,258 shares in the last quarter. MidWestOne Financial Group Inc. boosted its holdings in shares of Macy’s by 45.8% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 118,479 shares of the company’s stock valued at $1,859,000 after buying an additional 37,218 shares during the last quarter. MML Investors Services LLC bought a new position in shares of Macy’s in the third quarter valued at $193,000. Finally, XTX Topco Ltd bought a new position in shares of Macy’s in the third quarter valued at $503,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

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.