Macy’s (NYSE:M) Given Market Perform Rating at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Macy’s (NYSE:M) in a report published on Tuesday,Benzinga reports. The firm currently has a $17.00 price target on the stock.

A number of other equities analysts have also commented on M. Gordon Haskett upgraded shares of Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, December 16th. UBS Group lowered their price objective on Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Morgan Stanley reduced their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Argus raised shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Macy’s presently has a consensus rating of “Hold” and a consensus target price of $17.78.

Macy’s Price Performance

Shares of M opened at $14.04 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a market cap of $3.90 billion, a PE ratio of 23.80 and a beta of 2.07. Macy’s has a 12-month low of $14.01 and a 12-month high of $22.10. The business has a 50-day simple moving average of $16.18 and a two-hundred day simple moving average of $16.13.

Macy’s (NYSE:M) last released its quarterly 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 firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. Analysts anticipate that Macy’s will post 2.4 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were paid a $0.1737 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.95%. Macy’s’s dividend payout ratio is currently 116.95%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC bought a new stake in Macy’s in the third quarter valued at $35,000. Venturi Wealth Management LLC grew its stake in shares of Macy’s by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after buying an additional 1,685 shares during the period. Future Financial Wealth Managment LLC bought a new stake in Macy’s in the 3rd quarter valued at about $39,000. Abich Financial Wealth Management LLC acquired a new position in Macy’s during the 2nd quarter worth approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Macy’s in the second quarter worth approximately $62,000. 87.36% of the stock is 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.