Brokerages Set Macy’s, Inc. (NYSE:M) PT at $18.56

Shares of Macy’s, Inc. (NYSE:M) have been given an average recommendation of “Hold” by the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $18.56.

Several equities research analysts recently weighed in on M shares. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a report on Wednesday, December 11th. Argus upgraded Macy’s to a “hold” rating in a report on Thursday, October 10th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. UBS Group reduced their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Finally, Morgan Stanley dropped their price target on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th.

Macy’s Stock Performance

Macy’s stock opened at $16.82 on Friday. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a market cap of $4.67 billion, a PE ratio of 28.51 and a beta of 2.07. Macy’s has a 12-month low of $14.06 and a 12-month high of $22.10. The business’s 50-day moving average price is $16.12 and its two-hundred day moving average price is $16.25.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. As a group, analysts expect that Macy’s will post 2.38 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a dividend of $0.1737 per share. The ex-dividend date was Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.13%. Macy’s’s payout ratio is currently 116.95%.

Hedge Funds Weigh In On Macy’s

Several institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new stake in shares of Macy’s in the 3rd quarter valued at about $35,000. Venturi Wealth Management LLC increased its holdings 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 valued at $36,000 after acquiring an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Macy’s during the third quarter worth approximately $39,000. Abich Financial Wealth Management LLC bought a new position in shares of Macy’s in the 2nd quarter worth $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Macy’s in the 2nd quarter valued at $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.