Gordon Haskett downgraded shares of Macy's (NYSE:M - Free Report) from an accumulate rating to a hold rating in a research note issued to investors on Thursday morning, Marketbeat Ratings reports.
A number of other analysts have also weighed in on the stock. Morgan Stanley reduced their price objective on shares of 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. JPMorgan Chase & Co. reduced their target price 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. UBS Group reduced their target price on shares of Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a research report on Thursday, December 12th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $17.00 target price on shares of Macy's in a research report on Thursday. Finally, Benchmark raised shares of Macy's to a "strong-buy" rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $15.56.
Check Out Our Latest Research Report on M
Macy's Trading Up 0.1 %
Macy's stock traded up $0.02 during midday trading on Thursday, reaching $14.08. The stock had a trading volume of 10,055,312 shares, compared to its average volume of 7,206,143. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Macy's has a 52-week low of $12.60 and a 52-week high of $22.10. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 23.86 and a beta of 2.07. The company has a fifty day moving average of $14.97 and a 200 day moving average of $15.45.
Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings data 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. 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 analyst estimates of $7.76 billion. On average, analysts anticipate that Macy's will post 2.39 earnings per share 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 paid a dividend of $0.1824 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Macy's's previous quarterly dividend of $0.17. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.18%. Macy's's dividend payout ratio (DPR) is currently 35.44%.
Hedge Funds Weigh In On Macy's
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Macy's during the fourth quarter valued at approximately $2,591,000. Forum Financial Management LP bought a new position in shares of Macy's during the fourth quarter valued at approximately $177,000. Vise Technologies Inc. boosted its stake in shares of Macy's by 37.2% during the fourth 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 stake in Macy's by 14.5% in the fourth quarter. MidWestOne Financial Group Inc. now owns 135,646 shares of the company's stock valued at $2,296,000 after acquiring an additional 17,167 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Macy's by 13.1% in the fourth 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 in the last quarter. 87.36% of the stock is currently owned by institutional investors.
About Macy's
(
Get Free Report)
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.
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