Other analysts also recently issued research reports about the stock. Vetr raised shares of Macy’s from a buy rating to a strong-buy rating and set a $26.51 target price on the stock in a research report on Wednesday, August 2nd. Cowen restated a market perform rating and set a $23.00 price objective (down from $26.00) on shares of Macy’s in a research note on Friday, August 11th. BidaskClub cut shares of Macy’s from a hold rating to a sell rating in a research note on Saturday, August 19th. ValuEngine upgraded shares of Macy’s from a hold rating to a buy rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research cut shares of Macy’s from a hold rating to a sell rating in a research note on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $25.37.
Shares of Macy’s (NYSE M) traded up $0.39 on Friday, reaching $24.19. 14,776,397 shares of the company were exchanged, compared to its average volume of 10,085,979. Macy’s has a one year low of $17.41 and a one year high of $43.79. The company has a market cap of $7,370.00, a price-to-earnings ratio of 7.47, a price-to-earnings-growth ratio of 0.77 and a beta of 0.86. The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.49.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.3775 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.51 annualized dividend and a dividend yield of 6.24%. Macy’s’s dividend payout ratio is presently 66.52%.
A number of large investors have recently modified their holdings of the stock. Vantage Financial Partners Ltd. Inc. purchased a new position in Macy’s in the second quarter valued at approximately $335,000. Ffcm LLC increased its stake in Macy’s by 251.6% in the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock valued at $120,000 after purchasing an additional 3,615 shares during the last quarter. Penserra Capital Management LLC increased its stake in Macy’s by 51.1% in the second quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock valued at $129,000 after purchasing an additional 1,880 shares during the last quarter. Financial Architects Inc increased its stake in Macy’s by 254.5% in the second quarter. Financial Architects Inc now owns 5,850 shares of the company’s stock valued at $136,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Edge Wealth Management LLC purchased a new position in shares of Macy’s during the second quarter worth approximately $142,000. 82.20% of the stock is currently owned by hedge funds and other institutional investors.
Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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