Telsey Advisory Group Reiterates "Market Perform" Rating for Macy's (NYSE:M)

Telsey Advisory Group reiterated their market perform rating on shares of Macy's (NYSE:M - Free Report) in a research note published on Tuesday,Benzinga reports. Telsey Advisory Group currently has a $17.00 price target on the stock.

Several other equities research analysts also recently weighed in on the company. UBS Group cut their price target on Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a research report on Thursday, December 12th. StockNews.com downgraded Macy's from a "buy" rating to a "hold" rating in a report on Thursday, December 26th. JPMorgan Chase & Co. lowered their price objective on Macy's from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Guggenheim reaffirmed a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. Finally, Argus raised shares of Macy's to a "hold" rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $17.78.

Macy's Stock Down 3.6 %

M stock traded down $0.52 during trading on Tuesday, reaching $14.04. 11,517,984 shares of the company traded hands, compared to its average volume of 8,216,779. The business has a 50 day simple moving average of $16.18 and a 200 day simple moving average of $16.13. Macy's has a 12 month low of $14.01 and a 12 month high of $22.10. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 23.80 and a beta of 2.07.

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

Macy's Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in M. Quest Partners LLC acquired a new stake in Macy's in the third quarter valued at $35,000. Venturi Wealth Management LLC boosted its position in Macy's by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company's stock worth $36,000 after purchasing an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Macy's in the third quarter valued at $39,000. Abich Financial Wealth Management LLC purchased a new position in shares of Macy's in the second quarter valued at $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Macy's during the 2nd quarter worth $62,000. Institutional investors and hedge funds own 87.36% of the company's stock.

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.