Macy's (NYSE:M) Shares Up 5.8% on Better-Than-Expected Earnings

Macy's, Inc. (NYSE:M - Get Free Report)'s stock price was up 5.8% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $13.89 and last traded at $13.99. Approximately 2,949,551 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 6,880,964 shares. The stock had previously closed at $13.22.

The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion.

Macy's Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.1824 dividend. This is a boost from Macy's's previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a yield of 5.32%. Macy's's dividend payout ratio is presently 35.44%.

Analyst Ratings Changes

M has been the subject of several research analyst reports. Morgan Stanley set a $14.00 price target on Macy's in a report on Monday. Gordon Haskett downgraded shares of Macy's from an "accumulate" rating to a "hold" rating in a research note on Thursday, March 6th. Telsey Advisory Group set a $15.00 target price on Macy's in a report on Friday. Citigroup lowered their price target on Macy's from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Friday. Finally, StockNews.com raised shares of Macy's from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Macy's presently has an average rating of "Hold" and a consensus price target of $15.56.

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Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in M. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Macy's during the fourth quarter worth approximately $2,591,000. Forum Financial Management LP acquired a new position in shares of Macy's during the 4th quarter worth approximately $177,000. Vise Technologies Inc. lifted its holdings in Macy's by 37.2% in the 4th quarter. Vise Technologies Inc. now owns 23,129 shares of the company's stock valued at $392,000 after purchasing an additional 6,266 shares in the last quarter. MidWestOne Financial Group Inc. boosted its position in Macy's by 14.5% during the fourth quarter. MidWestOne Financial Group Inc. now owns 135,646 shares of the company's stock worth $2,296,000 after acquiring an additional 17,167 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Macy's by 13.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,349 shares of the company's stock valued at $17,952,000 after acquiring an additional 122,749 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.

Macy's Price Performance

The company has a 50-day moving average of $14.91 and a two-hundred day moving average of $15.43. 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 capitalization of $3.80 billion, a PE ratio of 23.23 and a beta of 2.07.

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.