Macy’s, Inc. (NYSE:M) Receives $18.56 Average PT from Analysts

Macy’s, Inc. (NYSE:M) has earned a consensus rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $17.78.

M has been the topic of a number of analyst reports. Argus raised Macy’s to a “hold” rating in a research report on Thursday, October 10th. StockNews.com downgraded Macy’s from a “buy” rating to a “hold” rating in a report on Thursday, December 26th. Telsey Advisory Group restated a “market perform” rating and set a $17.00 price target on shares of Macy’s in a report on Wednesday, December 11th. Morgan Stanley dropped their price target on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday.

Macy’s Price Performance

Shares of NYSE M opened at $16.03 on Friday. Macy’s has a 1 year low of $14.06 and a 1 year high of $22.10. The stock has a market capitalization of $4.45 billion, a P/E ratio of 27.17 and a beta of 2.07. The company’s 50-day moving average is $16.18 and its 200 day moving average is $16.22. 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 (NYSE:M) last posted its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.21 EPS. On average, sell-side analysts expect that Macy’s will post 2.4 earnings per share for the current year.

Macy’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a $0.1737 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.33%. Macy’s’s payout ratio is 116.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC raised its stake in shares of Macy’s by 4.0% in the second quarter. Commonwealth Equity Services LLC now owns 49,065 shares of the company’s stock worth $942,000 after buying an additional 1,900 shares during the period. Impact Partnership Wealth LLC bought a new stake in Macy’s during the 2nd quarter worth approximately $398,000. Arizona State Retirement System lifted its holdings in Macy’s by 1.9% during the second quarter. Arizona State Retirement System now owns 76,784 shares of the company’s stock valued at $1,474,000 after purchasing an additional 1,462 shares in the last quarter. LSV Asset Management boosted its position in shares of Macy’s by 1.3% in the second quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock worth $103,184,000 after purchasing an additional 68,300 shares during the period. Finally, United Services Automobile Association increased its stake in shares of Macy’s by 4.8% in the second quarter. United Services Automobile Association now owns 22,038 shares of the company’s stock worth $423,000 after purchasing an additional 1,012 shares in the last quarter. Hedge funds and other institutional investors 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.