Macy's, Inc. (NYSE:M) Receives $15.30 Average PT from Brokerages

Macy's, Inc. (NYSE:M - Get Free Report) has been assigned an average rating of "Hold" from the thirteen analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $15.30.

Several research firms recently issued reports on M. Citigroup cut their price target on shares of Macy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. New Street Research set a $13.00 target price on shares of Macy's in a research note on Thursday, March 6th. Morgan Stanley set a $14.00 target price on shares of Macy's in a research note on Monday, March 10th. JPMorgan Chase & Co. lowered shares of Macy's from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $19.00 to $14.00 in a research note on Thursday, March 6th. Finally, Guggenheim reiterated a "neutral" rating on shares of Macy's in a research note on Thursday, December 12th.

Macy's Stock Down 0.8 %

Shares of NYSE M traded down $0.11 during trading on Wednesday, reaching $13.27. 5,725,753 shares of the stock were exchanged, compared to its average volume of 5,992,529. The business's 50-day moving average price is $14.46 and its 200 day moving average price is $15.32. Macy's has a twelve month low of $12.60 and a twelve month high of $20.79. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 22.48 and a beta of 2.07.

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Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.25. The firm had revenue of $7.77 billion for the quarter, compared to analysts' expectations of $7.76 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. As a group, equities analysts forecast that Macy's will post 2.39 EPS for the current fiscal year.

Macy's Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Macy's's previous quarterly dividend of $0.17. Macy's's payout ratio is 35.44%.

Institutional Investors Weigh In On Macy's

A number of hedge funds have recently made changes to their positions in M. Wealth Enhancement Advisory Services LLC raised its holdings in Macy's by 22.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,731 shares of the company's stock worth $486,000 after purchasing an additional 5,332 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Macy's during the fourth quarter worth approximately $2,591,000. Forum Financial Management LP bought a new stake in Macy's during the fourth quarter worth approximately $177,000. Vise Technologies Inc. raised its holdings in Macy's by 37.2% during the fourth quarter. Vise Technologies Inc. now owns 23,129 shares of the company's stock worth $392,000 after purchasing an additional 6,266 shares in the last quarter. Finally, MidWestOne Financial Group Inc. raised its holdings in Macy's by 14.5% during the fourth quarter. MidWestOne Financial Group Inc. now owns 135,646 shares of the company's stock worth $2,296,000 after purchasing an additional 17,167 shares in the last quarter. Institutional investors own 87.36% of the company's stock.

About Macy's

Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.