Macy's, Inc. (NYSE:M - Get Free Report)'s share price was up 3.7% during mid-day trading on Thursday . The company traded as high as $17.49 and last traded at $17.45. Approximately 1,146,467 shares traded hands during trading, a decline of 82% from the average daily volume of 6,388,158 shares. The stock had previously closed at $16.82.
Wall Street Analysts Forecast Growth
M has been the topic of several recent research reports. Guggenheim reiterated a "neutral" rating on shares of Macy's in a research report on Thursday, December 12th. UBS Group decreased their target price on Macy's from $10.00 to $9.00 and set a "sell" rating on the stock in a research note on Thursday, December 12th. Gordon Haskett upgraded Macy's from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a research report on Monday, December 16th. Argus upgraded shares of Macy's to a "hold" rating in a research report on Thursday, October 10th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $17.00 target price on shares of Macy's in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $18.56.
Read Our Latest Stock Analysis on Macy's
Macy's Trading Up 7.6 %
The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $5.03 billion, a PE ratio of 30.68 and a beta of 2.11. The stock's 50 day moving average is $15.93 and its two-hundred day moving average is $16.34.
Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. Macy's had a return on equity of 21.99% and a net margin of 0.73%. The business's quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. As a group, sell-side analysts predict that Macy's, Inc. will post 2.38 EPS for the current fiscal year.
Macy's Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a $0.1737 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 annualized dividend and a yield of 3.84%. Macy's's dividend payout ratio (DPR) is 116.95%.
Institutional Investors Weigh In On Macy's
Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP lifted its stake in Macy's by 1,539.5% during the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company's stock valued at $67,871,000 after acquiring an additional 3,319,337 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Macy's by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company's stock valued at $297,385,000 after purchasing an additional 1,379,476 shares in the last quarter. American Century Companies Inc. raised its position in shares of Macy's by 18.9% in the second quarter. American Century Companies Inc. now owns 4,704,854 shares of the company's stock valued at $90,333,000 after buying an additional 747,542 shares during the last quarter. Barington Capital Group L.P. lifted its stake in Macy's by 550.0% in the 3rd quarter. Barington Capital Group L.P. now owns 650,000 shares of the company's stock worth $10,198,000 after purchasing an additional 550,000 shares in the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of Macy's by 57.9% in the third quarter. Retirement Systems of Alabama now owns 782,391 shares of the company's stock valued at $12,276,000 after purchasing an additional 286,879 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.
About Macy's
(
Get Free Report)
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.
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