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

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

A number of equities research analysts have recently weighed in on M shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a report on Wednesday, August 21st. Argus upgraded shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Evercore ISI reduced their price target 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. Morgan Stanley decreased 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 report on Thursday, August 22nd. Finally, StockNews.com initiated coverage on shares of Macy’s in a research note on Thursday. They set a “hold” rating on the stock.

Macy’s Price Performance

Shares of M stock opened at $16.18 on Friday. The firm has a fifty day moving average of $15.55 and a two-hundred day moving average of $17.45. The firm has a market cap of $4.47 billion, a P/E ratio of 539.33 and a beta of 2.11. Macy’s has a 1-year low of $10.59 and a 1-year high of $22.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34.

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

Macy’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.1737 per share. The ex-dividend date was Friday, September 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.29%. Macy’s’s dividend payout ratio is currently 2,300.00%.

Institutional Investors Weigh In On Macy’s

Large investors have recently made changes to their positions in the company. OLD National Bancorp IN boosted its position in Macy’s by 2.3% during the 3rd quarter. OLD National Bancorp IN now owns 90,000 shares of the company’s stock worth $1,412,000 after acquiring an additional 2,000 shares during the period. Blue Trust Inc. raised its stake in shares of Macy’s by 619.1% during the third quarter. Blue Trust Inc. now owns 4,868 shares of the company’s stock valued at $76,000 after purchasing an additional 4,191 shares in the last quarter. BCS Wealth Management acquired a new stake in Macy’s in the third quarter worth about $158,000. nVerses Capital LLC bought a new position in Macy’s in the 3rd quarter valued at about $290,000. Finally, Vontobel Holding Ltd. increased its stake in Macy’s by 54.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 31,860 shares of the company’s stock valued at $500,000 after buying an additional 11,276 shares during the period. Institutional investors and hedge funds 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.