Macy's (NYSE:M) Downgraded to Hold Rating by Gordon Haskett

Gordon Haskett downgraded shares of Macy's (NYSE:M - Free Report) from an accumulate rating to a hold rating in a research report report published on Thursday morning, MarketBeat Ratings reports.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their price target 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. StockNews.com upgraded Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Morgan Stanley dropped their price target on Macy's from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Thursday, December 12th. Benchmark raised shares of Macy's to a "strong-buy" rating in a report on Monday, February 3rd. Finally, Guggenheim reissued a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $15.56.

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Macy's Stock Up 0.1 %

M traded up $0.02 on Thursday, reaching $14.08. The company's stock had a trading volume of 10,054,712 shares, compared to its average volume of 7,206,143. Macy's has a 1 year low of $12.60 and a 1 year high of $22.10. The business's 50 day moving average is $15.03 and its 200 day moving average is $15.46. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 23.86 and a beta of 2.07.

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

Macy's Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.1824 per share. The ex-dividend date is Friday, March 14th. This is an increase from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 5.18%. Macy's's payout ratio is currently 35.44%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of Macy's by 8.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,399 shares of the company's stock valued at $367,000 after acquiring an additional 1,866 shares during the period. State of Alaska Department of Revenue boosted its stake in Macy's by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 31,911 shares of the company's stock valued at $500,000 after purchasing an additional 2,175 shares in the last quarter. Stephens Inc. AR acquired a new position in shares of Macy's during the 3rd quarter valued at $157,000. Impax Asset Management Group plc raised its stake in shares of Macy's by 55.0% in the 3rd quarter. Impax Asset Management Group plc now owns 63,544 shares of the company's stock worth $997,000 after buying an additional 22,544 shares in the last quarter. Finally, Able Wealth Management LLC acquired a new stake in shares of Macy's in the third quarter valued at $203,000. 87.36% of the stock is owned by institutional investors and hedge funds.

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.