Macy’s (NYSE:M) Sets New 1-Year Low – Here’s What Happened

Macy’s, Inc. (NYSE:M)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $13.55 and last traded at $13.48, with a volume of 312840 shares traded. The stock had previously closed at $14.01.

Analysts Set New Price Targets

Several brokerages have recently issued reports on M. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a research note on Thursday. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. dropped their target price on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. UBS Group reduced their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Finally, Morgan Stanley dropped their price objective on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.14.

Macy’s Stock Down 1.9 %

The firm’s 50-day moving average price is $15.26 and its 200 day moving average price is $15.53. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 22.07 and a beta of 2.05.

Macy’s (NYSE:M) last posted its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.25. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Sell-side analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.1824 per share. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 5.59%. Macy’s’s dividend payout ratio is 116.95%.

Institutional Trading of Macy’s

A number of institutional investors and hedge funds have recently bought and sold shares of M. Norges Bank acquired a new position in shares of Macy’s during the fourth quarter worth about $96,689,000. Junto Capital Management LP purchased a new position in Macy’s in the fourth quarter valued at about $48,775,000. FMR LLC raised its position in shares of Macy’s by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company’s stock valued at $127,038,000 after purchasing an additional 2,812,151 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Macy’s by 1,230.8% during the 4th quarter. Marshall Wace LLP now owns 2,387,193 shares of the company’s stock valued at $40,415,000 after buying an additional 2,207,809 shares during the last quarter. Finally, Cooper Creek Partners Management LLC boosted its stake in shares of Macy’s by 26.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock valued at $132,701,000 after buying an additional 1,627,572 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Company Profile

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.