Macy’s (NYSE:M) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Macy’s (NYSE:M) in a research note published on Thursday. The brokerage issued a hold rating on the stock.

Several other analysts have also issued reports on the stock. Evercore ISI dropped their target price on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Telsey Advisory Group restated a “market perform” rating and set a $21.00 price target on shares of Macy’s in a research report on Wednesday, August 21st. Morgan Stanley lowered their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Finally, Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.43.

Macy’s Stock Down 0.7 %

M opened at $16.18 on Thursday. Macy’s has a fifty-two week low of $10.59 and a fifty-two week high of $22.10. 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 has a fifty day moving average of $15.55 and a two-hundred day moving average of $17.45. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 539.33 and a beta of 2.11.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating 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 quarter last 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. On average, research analysts expect that Macy’s will post 2.72 earnings per share for the current year.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Friday, September 13th. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Hedge Funds Weigh In On Macy’s

A number of institutional investors have recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in shares of Macy’s in the 1st quarter valued at approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of Macy’s in the 1st quarter valued at approximately $42,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Macy’s in the 1st quarter valued at approximately $50,000. EntryPoint Capital LLC purchased a new stake in shares of Macy’s in the 1st quarter valued at approximately $51,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Macy’s in the 2nd quarter valued at approximately $57,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

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.