Brokerages Set Macy’s, Inc. (NYSE:M) Target Price at $20.43

Macy’s, Inc. (NYSE:M) has been assigned an average rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $20.43.

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

Macy’s Stock Performance

M opened at $15.49 on Thursday. The company has a 50 day simple moving average of $15.39 and a two-hundred day simple moving average of $16.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The firm has a market cap of $4.30 billion, a P/E ratio of 24.20 and a beta of 2.11. Macy’s has a 1-year low of $13.10 and a 1-year high of $22.10.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the business posted $0.26 EPS. Macy’s’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities analysts forecast that Macy’s will post 2.72 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.1737 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.49%. Macy’s’s dividend payout ratio is presently 107.81%.

Institutional Investors Weigh In On Macy’s

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Macy’s by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock worth $79,110,000 after buying an additional 128,258 shares in the last quarter. MidWestOne Financial Group Inc. increased its position in Macy’s by 45.8% during the third quarter. MidWestOne Financial Group Inc. now owns 118,479 shares of the company’s stock worth $1,859,000 after purchasing an additional 37,218 shares during the last quarter. MML Investors Services LLC purchased a new stake in shares of Macy’s in the 3rd quarter valued at approximately $193,000. XTX Topco Ltd acquired a new stake in shares of Macy’s during the 3rd quarter worth approximately $503,000. Finally, Quarry LP purchased a new stake in shares of Macy’s during the 3rd quarter valued at approximately $117,000. Institutional investors and hedge funds 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.