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

Shares of Macy’s, Inc. (NYSE:M) have been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $20.43.

A number of analysts have recently commented on M shares. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 price objective on shares of Macy’s in a research report on Wednesday, August 21st. Argus raised shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. StockNews.com started coverage on shares of Macy’s in a report on Sunday, November 10th. They set a “hold” rating on the stock. Finally, Morgan Stanley reduced 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 report on Thursday, August 22nd.

Macy’s Stock Performance

Shares of NYSE M opened at $15.26 on Thursday. The company has a market capitalization of $4.23 billion, a PE ratio of 23.84 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The company’s fifty day moving average price is $15.40 and its 200 day moving average price is $16.93. Macy’s has a 1 year low of $14.06 and a 1 year high of $22.10.

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

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.55%. Macy’s’s payout ratio is currently 107.81%.

Hedge Funds Weigh In On Macy’s

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in shares of Macy’s during the third quarter worth $35,000. Venturi Wealth Management LLC boosted its position in shares of Macy’s by 282.7% during the 3rd 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 in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Macy’s in the 3rd quarter valued at about $39,000. EntryPoint Capital LLC acquired a new stake in shares of Macy’s during the 1st quarter worth about $51,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Macy’s during the second quarter worth approximately $57,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.