Macy's (NYSE:M) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Macy's (NYSE:M - Free Report) in a report released on Wednesday morning. The firm issued a hold rating on the stock.

Several other equities research analysts have also issued reports on M. Morgan Stanley decreased their price target on shares of Macy's from $18.00 to $17.00 and set an equal weight rating for the company in a research note on Thursday, August 22nd. Telsey Advisory Group restated a market perform rating and issued a $21.00 target price on shares of Macy's in a research note on Wednesday, August 21st. Finally, Evercore ISI dropped their price target on Macy's from $22.00 to $17.00 and set an in-line rating on the stock in a research report on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $20.43.

Macy's Stock Performance

Shares of Macy's stock opened at $15.22 on Wednesday. Macy's has a 52 week low of $10.54 and a 52 week high of $22.10. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average price of $15.56 and a 200-day moving average price of $17.65. The company has a market cap of $4.21 billion, a PE ratio of 507.33 and a beta of 2.11.

Macy's (NYSE:M - Get Free Report) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.23. Macy's had a net margin of 0.80% and a return on equity of 23.14%. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the firm earned $0.26 earnings per share. The firm's revenue was down 3.8% on a year-over-year basis. Equities analysts anticipate that Macy's will post 2.72 earnings per share for the current fiscal year.

Macy's Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.1737 per share. The ex-dividend date was Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.57%. Macy's's payout ratio is 2,300.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Riverview Trust Co bought a new stake in shares of Macy's in the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of Macy's during the first quarter valued at approximately $42,000. Future Financial Wealth Managment LLC bought a new position in shares of Macy's in the first quarter worth approximately $50,000. EntryPoint Capital LLC bought a new position in shares of Macy's in the first quarter worth approximately $51,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Macy's in the second quarter worth $57,000. 87.36% of the stock is currently owned by institutional investors.

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.