UBS Group Has Lowered Expectations for Macy’s (NYSE:M) Stock Price

Macy’s (NYSE:M) had its price objective trimmed by UBS Group from $10.00 to $9.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a sell rating on the stock.

A number of other research analysts have also recently commented on the company. Morgan Stanley lowered their price target on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a research report on Wednesday. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. Finally, Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.38.

Macy’s Stock Up 2.6 %

Shares of M stock opened at $16.56 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34. Macy’s has a one year low of $14.06 and a one year high of $22.10. The company’s fifty day moving average price is $15.79 and its 200-day moving average price is $16.48. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 28.07 and a beta of 2.10.

Macy’s (NYSE:M) last posted its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the business earned $0.21 earnings per share. Macy’s’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts expect that Macy’s will post 2.38 EPS for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Friday, December 13th. Macy’s’s payout ratio is 116.95%.

Hedge Funds Weigh In On Macy’s

Institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC purchased a new position in shares of Macy’s during the 3rd quarter worth about $35,000. Venturi Wealth Management LLC raised its holdings in shares of Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after buying an additional 1,685 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Macy’s in the third quarter worth approximately $39,000. Abich Financial Wealth Management LLC bought a new stake in shares of Macy’s during the 2nd quarter worth approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Macy’s during the 2nd quarter valued at $62,000. Hedge funds and other 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.