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Macy's, Inc. (NYSE:M) Receives $18.56 Average Target Price from Analysts

Macy's logo with Retail/Wholesale background

Macy's, Inc. (NYSE:M - Get Free Report) has received a consensus recommendation of "Hold" from the eleven analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $18.56.

M has been the subject of several research reports. UBS Group reduced their price target on Macy's from $10.00 to $9.00 and set a "sell" rating for the company in a report on Thursday, December 12th. Telsey Advisory Group reiterated a "market perform" rating and issued a $17.00 target price on shares of Macy's in a research note on Wednesday, December 11th. Argus upgraded shares of Macy's to a "hold" rating in a research note on Thursday, October 10th. StockNews.com lowered shares of Macy's from a "buy" rating to a "hold" rating in a research note on Thursday, December 26th. Finally, Gordon Haskett raised shares of Macy's from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a research report on Monday, December 16th.

View Our Latest Analysis on M

Hedge Funds Weigh In On Macy's

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Macy's by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company's stock worth $41,765,000 after purchasing an additional 118,626 shares in the last quarter. FMR LLC lifted its position in Macy's by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company's stock worth $73,611,000 after buying an additional 195,880 shares in the last quarter. Virtu Financial LLC acquired a new position in Macy's during the 3rd quarter worth about $594,000. Alerus Financial NA bought a new stake in Macy's during the 3rd quarter worth about $2,144,000. Finally, Retirement Systems of Alabama increased its position in Macy's by 57.9% in the 3rd quarter. Retirement Systems of Alabama now owns 782,391 shares of the company's stock valued at $12,276,000 after acquiring an additional 286,879 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy's Trading Up 1.6 %

Shares of M traded up $0.26 during midday trading on Friday, hitting $16.82. The stock had a trading volume of 7,393,005 shares, compared to its average volume of 6,920,453. Macy's has a fifty-two week low of $14.06 and a fifty-two week high of $22.10. The business has a 50-day simple moving average of $16.12 and a two-hundred day simple moving average of $16.28. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. The firm has a market cap of $4.67 billion, a P/E ratio of 28.51 and a beta of 2.10.

Macy's (NYSE:M - Get Free Report) last issued its earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.74 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The business's quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. As a group, equities analysts forecast that Macy's will post 2.38 EPS for the current year.

Macy's Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were given a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date was Friday, December 13th. Macy's's dividend payout ratio (DPR) is 116.95%.

Macy's Company Profile

(Get Free Report

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.

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