Macy’s (NYSE:M) Upgraded at StockNews.com

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

Other equities research analysts also recently issued reports about the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a research note on Tuesday. Morgan Stanley reduced their price target on shares of 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, Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.86.

Macy’s Stock Up 1.9 %

Shares of M opened at $16.27 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $4.51 billion, a PE ratio of 25.42 and a beta of 2.11. The firm’s 50 day moving average is $15.51 and its 200-day moving average is $16.75. Macy’s has a 12 month low of $14.06 and a 12 month high of $22.10.

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 $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 4.27%. The ex-dividend date is Friday, December 13th. Macy’s’s payout ratio is 107.81%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Quest Partners LLC acquired a new stake in Macy’s during the 3rd quarter worth approximately $35,000. Venturi Wealth Management LLC raised its stake in shares of Macy’s by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after acquiring an additional 1,685 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Macy’s during the third quarter worth $39,000. Abich Financial Wealth Management LLC acquired a new position in shares of Macy’s during the second quarter worth $57,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Macy’s in the second quarter worth $62,000. 87.36% of the stock is currently owned by institutional investors.

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.