Macy’s (NYSE:M) Downgraded to “Hold” Rating by StockNews.com

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

A number of other research firms have also recently commented on M. Morgan Stanley cut their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Argus upgraded Macy’s to a “hold” rating in a research note on Thursday, October 10th. UBS Group lowered their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price objective on shares of Macy’s in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.56.

Macy’s Stock Up 7.6 %

Shares of M opened at $18.10 on Thursday. The business’s 50 day moving average is $15.97 and its 200 day moving average is $16.36. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. Macy’s has a 12-month low of $14.06 and a 12-month high of $22.10. The company has a market capitalization of $5.03 billion, a PE ratio of 30.68 and a beta of 2.11.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. Research analysts expect that Macy’s will post 2.38 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s payout ratio is 116.95%.

Institutional Investors Weigh In On Macy’s

A number of large investors have recently bought and sold shares of M. Bank of New York Mellon Corp raised its holdings in shares of Macy’s by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock worth $61,162,000 after purchasing an additional 37,254 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Macy’s by 33.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 213,218 shares of the company’s stock valued at $4,094,000 after buying an additional 53,471 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Macy’s by 3.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,968 shares of the company’s stock valued at $1,132,000 after buying an additional 2,227 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of Macy’s by 71.6% in the second quarter. Crossmark Global Holdings Inc. now owns 218,763 shares of the company’s stock worth $4,200,000 after buying an additional 91,257 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Macy’s during the second quarter worth about $387,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

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.