Macy's (NYSE:M) Hits New 12-Month Low - Here's Why

Macy's, Inc. (NYSE:M - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $10.56 and last traded at $10.75, with a volume of 3981174 shares. The stock had previously closed at $11.38.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on M. Telsey Advisory Group restated a "market perform" rating and set a $15.00 price objective on shares of Macy's in a research report on Wednesday, April 2nd. Citigroup lowered their price objective on Macy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Benchmark upgraded Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. New Street Research set a $13.00 price target on Macy's in a research report on Thursday, March 6th. Finally, UBS Group decreased their price objective on Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Macy's presently has a consensus rating of "Hold" and a consensus price target of $15.30.

Macy's Stock Down 0.7 %

The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 19.28 and a beta of 1.73. 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 business has a fifty day moving average of $13.53 and a 200 day moving average of $14.99.

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Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. The business 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, equities analysts predict 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 was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.41%. This is an increase from Macy's's previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. Macy's's payout ratio is 35.44%.

Insider Transactions at Macy's

In other Macy's news, EVP Adrian V. Mitchell sold 3,489 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $47,938.86. Following the sale, the executive vice president now directly owns 116,165 shares in the company, valued at $1,596,107.10. This represents a 2.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Antony Spring sold 3,124 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the transaction, the chief executive officer now owns 272,680 shares of the company's stock, valued at approximately $3,746,623.20. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,751 shares of company stock worth $537,790. 2.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in shares of Macy's by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company's stock worth $266,666,000 after purchasing an additional 1,149,454 shares in the last quarter. Cooper Creek Partners Management LLC boosted its position in shares of Macy's by 26.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock worth $132,701,000 after acquiring an additional 1,627,572 shares in the last quarter. FMR LLC increased its holdings in shares of Macy's by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock valued at $127,038,000 after acquiring an additional 2,812,151 shares during the last quarter. American Century Companies Inc. raised its position in shares of Macy's by 12.2% during the 4th quarter. American Century Companies Inc. now owns 7,137,132 shares of the company's stock worth $120,832,000 after acquiring an additional 774,693 shares in the last quarter. Finally, Norges Bank purchased a new stake in Macy's during the fourth quarter worth approximately $96,689,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

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.