Macy's (NYSE:M) Price Target Cut to $20.00 by Analysts at JPMorgan Chase & Co.

Macy's (NYSE:M - Free Report) had its price objective reduced by JPMorgan Chase & Co. from $21.00 to $20.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently commented on M. Argus upgraded Macy's to a "hold" rating in a report on Thursday, October 10th. Guggenheim restated a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. Morgan Stanley decreased their price objective on shares of Macy's from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Thursday, December 12th. Gordon Haskett raised Macy's from a "hold" rating to a "buy" rating and set a $20.00 price objective on the stock in a research note on Monday, December 16th. Finally, StockNews.com cut Macy's from a "buy" rating to a "hold" rating in a research report on Thursday, December 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $17.78.

Macy's Price Performance

NYSE:M traded down $0.33 during mid-day trading on Wednesday, reaching $16.03. 6,195,947 shares of the stock were exchanged, compared to its average volume of 6,757,396. Macy's has a 1-year low of $14.06 and a 1-year high of $22.10. 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 capitalization of $4.45 billion, a PE ratio of 27.17 and a beta of 2.07. The business has a fifty day moving average price of $16.17 and a 200 day moving average price of $16.22.

Macy's (NYSE:M - Get Free Report) last announced its 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 company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the firm earned $0.21 earnings per share. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. Research analysts expect that Macy's will post 2.4 earnings per share for the current fiscal year.

Macy's Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were given a dividend of $0.1737 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 4.33%. Macy's's dividend payout ratio (DPR) is 116.95%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in Macy's during the 3rd quarter worth $35,000. Venturi Wealth Management LLC grew its stake in shares of 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 during the period. Future Financial Wealth Managment LLC bought a new stake in Macy's in the third quarter valued at about $39,000. Abich Financial Wealth Management LLC acquired a new position in Macy's in the second quarter valued at about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Macy's during the second quarter worth about $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.