Macy’s (NYSE:M) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Macy’s (NYSE:M) in a research note issued to investors on Sunday morning. The firm issued a hold rating on the stock.

Several other analysts also recently issued reports on M. Evercore ISI cut their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a report on Tuesday, July 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 price target on shares of Macy’s in a report on Wednesday, August 21st. Argus raised Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, Morgan Stanley cut their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.43.

Macy’s Trading Down 0.1 %

Shares of M opened at $15.07 on Friday. The company has a market capitalization of $4.18 billion, a P/E ratio of 23.54 and a beta of 2.11. Macy’s has a one year low of $10.99 and a one year high of $22.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The stock has a 50-day moving average price of $15.35 and a 200 day moving average price of $17.01.

Macy’s (NYSE:M) last released its earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter last year, the business posted $0.26 EPS. Macy’s’s quarterly revenue was down 3.8% compared to the same quarter last year. Sell-side analysts forecast that Macy’s will post 2.72 EPS for the current fiscal year.

Macy’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.61%. Macy’s’s dividend payout ratio is 107.81%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of Macy’s in the third quarter worth about $35,000. Venturi Wealth Management LLC lifted its position in shares of Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after buying an additional 1,685 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Macy’s in the third quarter worth about $39,000. EntryPoint Capital LLC acquired a new position in shares of Macy’s during the 1st quarter worth about $51,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Macy’s during the 2nd quarter worth about $57,000. 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.