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

Shares of Macy’s, Inc. (NYSE:M) have been given a consensus rating of “Hold” by the eight analysts that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $20.43.

M has been the subject of a number of research analyst reports. Argus raised shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley dropped their price objective on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. Finally, StockNews.com assumed coverage on Macy’s in a research report on Sunday. They issued a “hold” rating for the company.

Macy’s Stock Performance

M opened at $15.07 on Thursday. The company has a market cap of $4.18 billion, a P/E ratio of 23.54 and a beta of 2.11. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The firm’s 50-day moving average price is $15.35 and its 200-day moving average price is $17.01. Macy’s has a 52-week low of $10.99 and a 52-week high of $22.10.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the company posted $0.26 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. As a group, equities analysts anticipate that Macy’s will post 2.72 EPS for the current fiscal year.

Macy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.61%. Macy’s’s dividend payout ratio is presently 107.81%.

Institutional Investors Weigh In On Macy’s

Several institutional investors and hedge funds have recently made changes to their positions in M. CWM LLC raised its holdings in shares of Macy’s by 7.7% during the second quarter. CWM LLC now owns 8,398 shares of the company’s stock valued at $161,000 after buying an additional 598 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Macy’s by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock valued at $851,000 after purchasing an additional 761 shares in the last quarter. Wedmont Private Capital lifted its holdings in Macy’s by 6.1% in the second quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock worth $275,000 after purchasing an additional 833 shares during the period. State Board of Administration of Florida Retirement System grew its position in Macy’s by 0.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock valued at $2,839,000 after buying an additional 877 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Macy’s by 9.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 11,800 shares of the company’s stock valued at $236,000 after buying an additional 1,000 shares during the period. 87.36% of the stock is owned by institutional investors and hedge funds.

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.