Analysts Set Macy's, Inc. (NYSE:M) Target Price at $20.43

Shares of Macy's, Inc. (NYSE:M - Get Free Report) have been given a consensus rating of "Hold" by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $20.43.

A number of research firms have commented on M. Morgan Stanley reduced their price objective on shares of Macy's from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 22nd. StockNews.com initiated coverage on Macy's in a report on Sunday. They issued a "hold" rating for the company. Argus raised Macy's to a "hold" rating in a report on Thursday, October 10th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $21.00 price objective on shares of Macy's in a research report on Wednesday, August 21st.

Macy's Trading Up 2.5 %

M stock traded up $0.37 on Thursday, hitting $15.44. 3,401,622 shares of the company were exchanged, compared to its average volume of 6,272,778. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 23.54 and a beta of 2.11. The business's fifty day moving average is $15.35 and its two-hundred day moving average is $17.01. Macy's has a twelve month low of $12.07 and a twelve month high of $22.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34.

Macy's (NYSE:M - Get Free Report) last issued its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.23. The business had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $5.06 billion. Macy's had a return on equity of 23.14% and a net margin of 0.80%. The company's revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. As a group, research analysts forecast that Macy's will post 2.72 earnings per share for the current year.

Macy's Announces Dividend

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 issued a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.50%. Macy's's payout ratio is 107.81%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Marshall Wace LLP raised its position in shares of Macy's by 1,539.5% during the second quarter. Marshall Wace LLP now owns 3,534,952 shares of the company's stock worth $67,871,000 after purchasing an additional 3,319,337 shares during the period. Dimensional Fund Advisors LP raised its holdings in Macy's by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company's stock worth $297,385,000 after buying an additional 1,379,476 shares during the period. American Century Companies Inc. lifted its stake in Macy's by 18.9% during the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company's stock valued at $90,333,000 after buying an additional 747,542 shares in the last quarter. Beryl Capital Management LLC acquired a new position in shares of Macy's in the first quarter worth about $7,015,000. Finally, Alden Global Capital LLC increased its position in shares of Macy's by 56.1% in the second quarter. Alden Global Capital LLC now owns 606,741 shares of the company's stock worth $11,649,000 after acquiring an additional 218,146 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

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.