Macy’s (NYSE:M) Upgraded to “Hold” at Argus

Argus upgraded shares of Macy’s (NYSE:M) to a hold rating in a research note released on Thursday morning, Zacks.com reports.

Other analysts also recently issued research reports about the stock. StockNews.com began coverage on shares of Macy’s in a research report on Wednesday. They set a hold rating for the company. Evercore ISI decreased their price objective on shares of Macy’s from $22.00 to $17.00 and set an in-line rating for the company in a research note on Tuesday, July 16th. Morgan Stanley cut their target price on Macy’s from $18.00 to $17.00 and set an equal weight rating on the stock in a research report on Thursday, August 22nd. Finally, Telsey Advisory Group reissued a market perform rating and issued a $21.00 target price on shares of Macy’s in a research report on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $20.43.

Macy’s Stock Performance

Shares of M stock opened at $15.78 on Thursday. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10. The firm has a 50 day moving average of $15.50 and a two-hundred day moving average of $17.59. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $4.36 billion, a PE ratio of 526.00 and a beta of 2.11.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.23. The business had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. On average, research analysts predict that Macy’s will post 2.72 EPS for the current fiscal year.

Macy’s Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Friday, September 13th. Macy’s’s dividend payout ratio is currently 2,300.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of M. Syquant Capital Sas purchased a new position in Macy’s in the 1st quarter valued at about $1,767,000. Banque Cantonale Vaudoise boosted its position in Macy’s by 350.0% during the first quarter. Banque Cantonale Vaudoise now owns 4,500 shares of the company’s stock worth $90,000 after acquiring an additional 3,500 shares during the last quarter. Wedmont Private Capital grew its stake in Macy’s by 7.8% in the 1st quarter. Wedmont Private Capital now owns 13,570 shares of the company’s stock worth $267,000 after acquiring an additional 981 shares during the period. Riverview Trust Co acquired a new position in Macy’s in the 1st quarter valued at $27,000. Finally, Atlas Capital Advisors LLC lifted its stake in shares of Macy’s by 1,122.9% during the 1st quarter. Atlas Capital Advisors LLC now owns 17,695 shares of the company’s stock worth $354,000 after purchasing an additional 16,248 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.