Macy’s (NYSE:M) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Macy’s (NYSE:M) from a buy rating to a hold rating in a research report released on Friday.

Several other analysts have also issued reports on the stock. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. UBS Group reduced their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research note on Thursday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a research report on Wednesday, December 11th. Morgan Stanley cut their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.38.

Macy’s Stock Performance

Macy’s stock opened at $16.56 on Friday. The firm has a 50 day simple moving average of $15.79 and a 200-day simple moving average of $16.46. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 28.07 and a beta of 2.10. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34. Macy’s has a 1-year low of $14.06 and a 1-year high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. On average, analysts expect that Macy’s will post 2.38 EPS for the current year.

Macy’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.1737 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.20%. Macy’s’s dividend payout ratio is presently 116.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of M. Quest Partners LLC acquired a new position in Macy’s during the 3rd quarter worth approximately $35,000. Venturi Wealth Management LLC grew its stake in shares of Macy’s by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after purchasing an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Macy’s in the third quarter valued at $39,000. Abich Financial Wealth Management LLC acquired a new stake in Macy’s in the second quarter valued at $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Macy’s during the 2nd quarter worth about $62,000. 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.