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 issued to investors on Tuesday morning,Benzinga reports. Telsey Advisory Group currently has a $17.00 price objective on the stock.

Several other research firms have also recently weighed in on M. Morgan Stanley decreased their price objective on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. StockNews.com initiated coverage on shares of Macy’s in a research note on Sunday, November 10th. They set a “hold” rating for the company. Finally, Argus upgraded Macy’s to a “hold” rating in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.86.

Macy’s Trading Down 0.3 %

Macy’s stock opened at $15.89 on Tuesday. Macy’s has a one year low of $14.06 and a one year high of $22.10. The business’s fifty day moving average is $15.47 and its 200 day moving average is $16.79. The stock has a market capitalization of $4.41 billion, a PE ratio of 24.83 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.37%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio is 107.81%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in Macy’s by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock worth $297,385,000 after purchasing an additional 1,379,476 shares in the last quarter. LSV Asset Management lifted its holdings 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 buying an additional 68,300 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Macy’s by 2.6% in the third 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. American Century Companies Inc. lifted its holdings in shares of Macy’s by 18.9% in the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock worth $90,333,000 after buying an additional 747,542 shares in the last quarter. Finally, FMR LLC grew its stake in Macy’s by 4.4% during the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after acquiring an additional 195,880 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.