Macy’s, Inc. (NYSE:M) Receives $18.56 Average PT from Analysts

Macy’s, Inc. (NYSE:M) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $18.56.

M has been the subject of a number of recent analyst reports. Gordon Haskett raised Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, December 16th. Morgan Stanley lowered their target price on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. StockNews.com cut shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Finally, Guggenheim reiterated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th.

Macy’s Price Performance

Shares of M stock opened at $16.82 on Friday. Macy’s has a 1 year low of $14.06 and a 1 year high of $22.10. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. The firm’s 50 day moving average is $16.12 and its 200-day moving average is $16.25. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 28.51 and a beta of 2.07.

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

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a $0.1737 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.13%. Macy’s’s dividend payout ratio (DPR) is presently 116.95%.

Hedge Funds Weigh In On Macy’s

Hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its stake in Macy’s by 4.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 49,065 shares of the company’s stock worth $942,000 after acquiring an additional 1,900 shares during the period. Impact Partnership Wealth LLC bought a new position in shares of Macy’s in the second quarter worth $398,000. Arizona State Retirement System lifted its position in Macy’s by 1.9% during the second quarter. Arizona State Retirement System now owns 76,784 shares of the company’s stock worth $1,474,000 after purchasing an additional 1,462 shares during the period. LSV Asset Management grew its stake in Macy’s by 1.3% during the second quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock worth $103,184,000 after buying an additional 68,300 shares in the last quarter. Finally, United Services Automobile Association increased its holdings in Macy’s by 4.8% in the 2nd quarter. United Services Automobile Association now owns 22,038 shares of the company’s stock valued at $423,000 after buying an additional 1,012 shares during the period. 87.36% of the stock is owned by institutional investors.

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.