Macy’s, Inc. (NYSE:M) Receives $20.43 Average Price Target from Brokerages

Macy’s, Inc. (NYSE:M) has been given a consensus rating of “Hold” by the eight analysts that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $20.43.

M has been the subject of several recent research reports. StockNews.com initiated coverage on Macy’s in a research report on Sunday, November 10th. They issued a “hold” rating for the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a report on Wednesday, August 21st. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, Morgan Stanley decreased their target price on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd.

Macy’s Stock Down 1.5 %

Shares of Macy’s stock opened at $15.26 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 23.84 and a beta of 2.11. The firm’s 50-day moving average is $15.40 and its two-hundred day moving average is $16.93. Macy’s has a 1 year low of $14.06 and a 1 year high of $22.10.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. As a group, research analysts expect that Macy’s will post 2.72 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s dividend payout ratio is presently 107.81%.

Hedge Funds Weigh In On Macy’s

Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in Macy’s by 44.9% during the 1st quarter. Russell Investments Group Ltd. now owns 516,834 shares of the company’s stock valued at $10,331,000 after acquiring an additional 160,093 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Macy’s by 0.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 142,009 shares of the company’s stock valued at $2,839,000 after purchasing an additional 877 shares during the period. Virtu Financial LLC purchased a new stake in Macy’s in the first quarter valued at $1,043,000. WINTON GROUP Ltd grew its position in Macy’s by 96.4% during the 2nd quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock worth $2,047,000 after purchasing an additional 52,337 shares during the period. Finally, US Bancorp DE grew its position in Macy’s by 6.4% during the 1st quarter. US Bancorp DE now owns 21,669 shares of the company’s stock worth $433,000 after purchasing an additional 1,306 shares during the period. 87.36% of the stock is owned by institutional investors and hedge funds.

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.