Macy’s (NYSE:M) Upgraded at Argus

Argus upgraded shares of Macy’s (NYSE:M) to a hold rating in a report published on Thursday, Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. StockNews.com started coverage on shares of Macy’s in a research note on Wednesday, October 9th. They set a hold rating for the company. Telsey Advisory Group reaffirmed a market perform rating and set a $21.00 target price on shares of Macy’s in a report on Wednesday, August 21st. Evercore ISI decreased their price target on shares of Macy’s from $22.00 to $17.00 and set an in-line rating for the company in a research note on Tuesday, July 16th. Finally, Morgan Stanley dropped their price objective on shares of Macy’s from $18.00 to $17.00 and set an equal weight rating on the stock in a research note on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $20.43.

Macy’s Stock Up 2.2 %

M stock opened at $15.78 on Thursday. The firm has a market cap of $4.36 billion, a PE ratio of 526.00 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The firm has a 50 day simple moving average of $15.50 and a 200 day simple moving average of $17.56. Macy’s has a 12 month low of $10.54 and a 12 month high of $22.10.

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

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Friday, September 13th. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

Institutional Trading of Macy’s

Several institutional investors have recently added to or reduced their stakes in M. Russell Investments Group Ltd. boosted its holdings in Macy’s by 44.9% during the first quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock worth $10,331,000 after buying an additional 160,093 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Macy’s by 0.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock worth $2,839,000 after purchasing an additional 877 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Macy’s during the first quarter valued at approximately $1,043,000. WINTON GROUP Ltd raised its stake in shares of Macy’s by 96.4% during the 2nd quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock valued at $2,047,000 after purchasing an additional 52,337 shares during the period. Finally, Atlas Capital Advisors LLC boosted its holdings in shares of Macy’s by 1,122.9% in the 1st quarter. Atlas Capital Advisors LLC now owns 17,695 shares of the company’s stock worth $354,000 after purchasing an additional 16,248 shares in the last quarter. 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.