Macy’s’ (M) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Macy’s (NYSE:M) in a research note published on Tuesday morning,Benzinga reports. The firm currently has a $17.00 target price on the stock.

A number of other equities research analysts have also commented on M. StockNews.com lowered Macy’s from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, December 16th. UBS Group decreased their price objective on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Finally, 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 note on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.78.

Macy’s Stock Down 3.6 %

Shares of NYSE M opened at $14.04 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34. The company has a 50-day moving average price of $16.18 and a 200-day moving average price of $16.13. The stock has a market capitalization of $3.90 billion, a P/E ratio of 23.80 and a beta of 2.07. Macy’s has a 1 year low of $14.01 and a 1 year high of $22.10.

Macy’s (NYSE:M) last released its quarterly 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 company had revenue of $4.74 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $0.21 EPS. On average, equities research analysts forecast that Macy’s will post 2.4 EPS for the current fiscal year.

Macy’s Announces Dividend

The company also recently disclosed 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. This represents a $0.69 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Friday, December 13th. Macy’s’s dividend payout ratio (DPR) is 116.95%.

Institutional Trading of Macy’s

A number of large investors have recently bought and sold shares of M. Quest Partners LLC purchased a new position in shares of Macy’s during the 3rd quarter valued at $35,000. Venturi Wealth Management LLC lifted its holdings in 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 purchasing an additional 1,685 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in Macy’s during the third quarter worth about $39,000. Abich Financial Wealth Management LLC purchased a new position in shares of Macy’s in the second quarter worth about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Macy’s in the second quarter valued at approximately $62,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

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.