Telsey Advisory Group Reiterates Market Perform Rating for Macy's (NYSE:M)

Telsey Advisory Group restated their market perform rating on shares of Macy's (NYSE:M - Free Report) in a report published on Thursday, Marketbeat.com reports. The brokerage currently has a $17.00 price objective on the stock.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. decreased their price objective on Macy's from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. UBS Group decreased their price target on Macy's from $10.00 to $9.00 and set a "sell" rating for the company in a report on Thursday, December 12th. Gordon Haskett cut Macy's from a "buy" rating to an "accumulate" rating in a research note on Thursday, February 13th. Benchmark raised shares of Macy's to a "strong-buy" rating in a report on Monday, February 3rd. Finally, Guggenheim reiterated a "neutral" rating on shares of Macy's in a report on Thursday, December 12th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $15.56.

Macy's Stock Up 0.1 %

Shares of NYSE M traded up $0.02 during midday trading on Thursday, hitting $14.08. 10,055,312 shares of the stock traded hands, compared to its average volume of 7,206,143. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. Macy's has a one year low of $12.60 and a one year high of $22.10. The business has a 50 day moving average price of $14.97 and a two-hundred day moving average price of $15.45. The company has a market cap of $3.91 billion, a PE ratio of 23.86 and a beta of 2.07.

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Macy's (NYSE:M - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating 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 business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. On average, equities analysts predict that Macy's will post 2.39 EPS for the current year.

Macy's Increases Dividend

The business also recently declared 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 is Friday, March 14th. This represents a $0.73 annualized dividend and a dividend yield of 5.18%. This is a positive change from Macy's's previous quarterly dividend of $0.17. Macy's's dividend payout ratio (DPR) is presently 35.44%.

Hedge Funds Weigh In On Macy's

Several institutional investors and hedge funds have recently bought and sold shares of M. Trifecta Capital Advisors LLC purchased a new position in shares of Macy's during the 4th quarter valued at $34,000. Quest Partners LLC purchased a new stake in Macy's during the third quarter valued at about $35,000. Venturi Wealth Management LLC boosted its position in Macy's by 282.7% during the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company's stock worth $36,000 after purchasing an additional 1,685 shares during the period. Jones Financial Companies Lllp boosted its position in Macy's by 82.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock worth $36,000 after purchasing an additional 969 shares during the period. Finally, Kestra Investment Management LLC purchased a new position in shares of Macy's in the fourth quarter worth about $38,000. 87.36% of the stock is owned by 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.