Macy's (NYSE:M) Hits New 12-Month Low - What's Next?

Macy's, Inc. (NYSE:M - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $14.05 and last traded at $14.06, with a volume of 8064926 shares. The stock had previously closed at $14.56.

Analyst Ratings Changes

A number of research firms have recently issued reports on M. JPMorgan Chase & Co. reduced their price target on shares of Macy's from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Argus upgraded shares of Macy's to a "hold" rating in a research report on Thursday, October 10th. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research report on Tuesday. Guggenheim reiterated a "neutral" rating on shares of Macy's in a research report on Thursday, December 12th. Finally, Gordon Haskett upgraded shares of Macy's from a "hold" rating to a "buy" rating and set a $20.00 price objective on the stock in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Macy's currently has an average rating of "Hold" and a consensus target price of $17.78.

Macy's Stock Performance

The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 23.80 and a beta of 2.07. 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's 50 day simple moving average is $16.18 and its 200 day simple moving average is $16.13.

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

Macy's Dividend Announcement

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

Hedge Funds Weigh In On Macy's

Several hedge funds have recently made changes to their positions in M. Quest Partners LLC purchased a new position in shares of Macy's in the third quarter worth approximately $35,000. Venturi Wealth Management LLC increased its position in shares of Macy's by 282.7% in the third 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 in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Macy's in the third quarter worth approximately $39,000. Abich Financial Wealth Management LLC purchased a new position in shares of Macy's in the second quarter worth approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macy's in the second quarter worth approximately $62,000. Institutional investors and hedge funds own 87.36% of the company's stock.

About Macy's

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.