Macy's (NYSE:M) Hits New 1-Year Low - Here's Why

Macy's, Inc. (NYSE:M - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $13.55 and last traded at $13.48, with a volume of 312840 shares trading hands. The stock had previously closed at $14.01.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on M. Benchmark raised Macy's to a "strong-buy" rating in a research note on Monday, February 3rd. StockNews.com raised Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Morgan Stanley lowered their target price on Macy's from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Thursday, December 12th. JPMorgan Chase & Co. lowered their target price on Macy's from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Finally, UBS Group lowered their target price on Macy's from $10.00 to $9.00 and set a "sell" rating for the company in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Macy's has a consensus rating of "Hold" and an average price target of $17.14.

Macy's Price Performance

The company has a market capitalization of $3.71 billion, a PE ratio of 22.62 and a beta of 2.05. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The stock has a fifty day simple moving average of $15.26 and a 200-day simple moving average of $15.53.

Macy's (NYSE:M - Get Free Report) last announced 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). The business had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.74 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The firm's quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. Equities analysts anticipate that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.1824 dividend. This represents a $0.73 annualized dividend and a yield of 5.47%. The ex-dividend date is Friday, March 14th. This is a boost from Macy's's previous quarterly dividend of $0.17. Macy's's payout ratio is 116.95%.

Hedge Funds Weigh In On Macy's

Several institutional investors and hedge funds have recently added to or reduced their stakes in M. Trifecta Capital Advisors LLC acquired a new position in Macy's during the 4th quarter worth approximately $34,000. Quest Partners LLC acquired a new stake in shares of Macy's in the 3rd quarter worth approximately $35,000. Venturi Wealth Management LLC grew its holdings 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 worth $36,000 after acquiring an additional 1,685 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Macy's by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after acquiring an additional 969 shares during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of Macy's in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 87.36% of the company's stock.

Macy's Company Profile

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.