Macy’s’ (M) “Neutral” Rating Reaffirmed at Guggenheim

Guggenheim restated their neutral rating on shares of Macy’s (NYSE:M) in a research note issued to investors on Thursday,Benzinga reports.

A number of other analysts also recently issued reports on the company. Morgan Stanley cut their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday. Argus raised Macy’s to a “hold” rating in a research note on Thursday, October 10th. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 price target on shares of Macy’s in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.38.

Macy’s Stock Performance

NYSE:M opened at $16.30 on Thursday. The company has a market cap of $4.52 billion, a P/E ratio of 27.62 and a beta of 2.10. Macy’s has a twelve month low of $14.06 and a twelve month high of $22.10. The company’s 50-day moving average price is $15.77 and its 200-day moving average price is $16.53. 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 (NYSE:M) last released its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.21 earnings per share. On average, sell-side analysts forecast that Macy’s will post 2.38 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 annualized dividend and a yield of 4.26%. Macy’s’s dividend payout ratio is currently 116.95%.

Institutional Trading of Macy’s

A number of institutional investors have recently modified their holdings of M. Charles Schwab Investment Management Inc. grew its position in Macy’s by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after buying an additional 118,626 shares during the period. FMR LLC increased its stake in Macy’s by 4.4% in the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after purchasing an additional 195,880 shares in the last quarter. Alerus Financial NA acquired a new position in Macy’s during the third quarter worth $2,144,000. WINTON GROUP Ltd boosted its position in Macy’s by 96.4% during the second 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 in the last quarter. Finally, Royce & Associates LP grew its holdings in Macy’s by 5.2% in the third quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock valued at $22,280,000 after purchasing an additional 70,000 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

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.