Macy’s, Inc. (NYSE:M) Receives Consensus Recommendation of “Hold” from Brokerages

Macy’s, Inc. (NYSE:M) has received a consensus rating of “Hold” from the eleven research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $18.56.

A number of research analysts have recently commented on M shares. Argus raised shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. UBS Group dropped their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. StockNews.com lowered shares of 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 objective on shares of Macy’s in a report on Wednesday, December 11th. Finally, Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, December 16th.

Institutional Trading of Macy’s

A number of hedge funds have recently made changes to their positions in the company. United Services Automobile Association grew its stake in Macy’s by 4.8% during the 2nd quarter. United Services Automobile Association now owns 22,038 shares of the company’s stock valued at $423,000 after purchasing an additional 1,012 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Macy’s by 2.5% during the second quarter. Federated Hermes Inc. now owns 44,337 shares of the company’s stock worth $851,000 after buying an additional 1,095 shares in the last quarter. Affinity Capital Advisors LLC grew its position in shares of Macy’s by 11.5% during the third quarter. Affinity Capital Advisors LLC now owns 12,116 shares of the company’s stock worth $190,000 after buying an additional 1,248 shares in the last quarter. KBC Group NV increased its stake in shares of Macy’s by 19.9% in the third quarter. KBC Group NV now owns 7,952 shares of the company’s stock worth $125,000 after buying an additional 1,319 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Macy’s by 1.9% in the second quarter. Arizona State Retirement System now owns 76,784 shares of the company’s stock valued at $1,474,000 after acquiring an additional 1,462 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Stock Down 0.2 %

M stock opened at $16.37 on Friday. The company has a 50 day moving average price of $16.15 and a two-hundred day moving average price of $16.23. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26. The stock has a market capitalization of $4.54 billion, a P/E ratio of 27.75 and a beta of 2.07. Macy’s has a one year low of $14.06 and a one year high of $22.10.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the firm earned $0.21 EPS. Macy’s’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Macy’s will post 2.4 EPS for the current year.

Macy’s Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.24%. The ex-dividend date was Friday, December 13th. Macy’s’s payout ratio is 116.95%.

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.