Macy’s (NYSE:M) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Macy’s (NYSE:M) from a hold rating to a buy rating in a research report report published on Wednesday morning.

M has been the subject of several other research reports. Morgan Stanley decreased their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Argus raised Macy’s to a “hold” rating in a research report on Thursday, October 10th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price target on shares of Macy’s in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.86.

Macy’s Trading Up 0.4 %

M stock opened at $15.96 on Wednesday. Macy’s has a 12 month low of $14.06 and a 12 month high of $22.10. The firm’s 50-day moving average is $15.49 and its 200 day moving average is $16.76. The company has a market capitalization of $4.43 billion, a PE ratio of 24.94 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Friday, December 13th. Macy’s’s dividend payout ratio (DPR) is currently 107.81%.

Hedge Funds Weigh In On Macy’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in M. Dimensional Fund Advisors LP grew its holdings in Macy’s by 9.8% in the second 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 during the last quarter. LSV Asset Management grew its stake in Macy’s by 1.3% during the 2nd 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 during the last quarter. Geode Capital Management LLC increased its position 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 valued at $79,110,000 after buying an additional 128,258 shares in the last quarter. American Century Companies Inc. raised its stake in Macy’s by 18.9% in the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after buying an additional 747,542 shares during the last quarter. Finally, FMR LLC boosted its holdings in Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $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.