Macy’s, Inc. (NYSE:M) Receives $15.30 Average PT from Brokerages

Shares of Macy’s, Inc. (NYSE:M) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.30.

Several research analysts have weighed in on the stock. New Street Research set a $13.00 price objective on shares of Macy’s in a report on Thursday, March 6th. Benchmark raised shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. Morgan Stanley set a $14.00 price target on shares of Macy’s in a report on Monday, March 10th. UBS Group decreased their price target on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered shares of Macy’s from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $14.00 in a report on Thursday, March 6th.

Institutional Trading of Macy’s

Several hedge funds have recently bought and sold shares of M. Dimensional Fund Advisors LP raised its position in shares of Macy’s by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company’s stock worth $266,666,000 after buying an additional 1,149,454 shares in the last quarter. Cooper Creek Partners Management LLC raised its position in shares of Macy’s by 26.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock worth $132,701,000 after buying an additional 1,627,572 shares in the last quarter. FMR LLC raised its position in shares of Macy’s by 59.9% during the 4th quarter. FMR LLC now owns 7,503,742 shares of the company’s stock worth $127,038,000 after buying an additional 2,812,151 shares in the last quarter. American Century Companies Inc. raised its position in shares of Macy’s by 12.2% during the 4th quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock worth $120,832,000 after buying an additional 774,693 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Macy’s during the 4th quarter worth about $96,689,000. 87.36% of the stock is currently owned by institutional investors.

Macy’s Price Performance

Shares of M stock opened at $13.27 on Wednesday. The firm has a market cap of $3.68 billion, a P/E ratio of 22.48 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. Macy’s has a 1-year low of $12.60 and a 1-year high of $20.79. The firm has a fifty day moving average of $14.46 and a two-hundred day moving average of $15.32.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.25. The company had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. As a group, research analysts anticipate that Macy’s will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.1824 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a yield of 5.50%. Macy’s’s dividend payout ratio (DPR) is currently 35.44%.

Macy’s Company Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.