Macy’s, Inc. (NYSE:M) Receives $17.75 Average PT from Analysts

Macy’s, Inc. (NYSE:M) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $17.14.

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. UBS Group cut their price objective on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Gordon Haskett lowered Macy’s from a “buy” rating to an “accumulate” rating in a report on Thursday, February 13th. Benchmark upgraded Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Guggenheim reiterated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th.

Macy’s Price Performance

M opened at $14.35 on Friday. The stock has a fifty day moving average of $15.39 and a 200-day moving average of $15.59. The firm has a market capitalization of $3.98 billion, a P/E ratio of 24.32 and a beta of 2.05. Macy’s has a 12-month low of $13.66 and a 12-month high of $22.10. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last released its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Macy’s’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 EPS. Equities analysts forecast that Macy’s will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.1824 per share. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 5.08%. Macy’s’s dividend payout ratio (DPR) is 116.95%.

Hedge Funds Weigh In On Macy’s

Several institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. grew its position in shares of Macy’s by 619.1% in 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 during the last quarter. Signaturefd LLC grew its position in shares of Macy’s by 39.2% in the third quarter. Signaturefd LLC now owns 26,748 shares of the company’s stock valued at $420,000 after purchasing an additional 7,534 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Macy’s by 454.3% in the third quarter. International Assets Investment Management LLC now owns 111,587 shares of the company’s stock valued at $1,751,000 after purchasing an additional 91,455 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Macy’s in the third quarter valued at about $1,407,000. Finally, Highland Capital Management LLC grew its position in shares of Macy’s by 104.9% in the third quarter. Highland Capital Management LLC now owns 22,644 shares of the company’s stock valued at $355,000 after purchasing an additional 11,594 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.