Macy's (NYSE:M) Given New $17.00 Price Target at The Goldman Sachs Group

Macy's (NYSE:M - Free Report) had its price target decreased by The Goldman Sachs Group from $19.00 to $17.00 in a research note released on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research firms also recently weighed in on M. Morgan Stanley decreased their price target on shares of Macy's from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 12th. Gordon Haskett cut shares of Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday. UBS Group lowered their price target on shares of Macy's from $9.00 to $8.00 and set a "sell" rating for the company in a report on Friday. StockNews.com upgraded shares of Macy's from a "hold" rating to a "buy" rating in a research report on Friday, February 14th. Finally, Guggenheim reiterated a "neutral" rating on shares of Macy's in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.00.

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Macy's Stock Performance

M stock traded up $0.88 during midday trading on Friday, hitting $14.10. 13,833,776 shares of the stock traded hands, compared to its average volume of 7,141,113. The firm has a market cap of $3.91 billion, a P/E ratio of 23.89 and a beta of 2.07. 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's fifty day simple moving average is $15.03 and its 200-day simple moving average is $15.46. Macy's has a 1-year low of $12.60 and a 1-year high of $22.10.

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 (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. Macy's had a net margin of 0.73% and a return on equity of 21.99%. On average, analysts expect that Macy's will post 2.39 earnings per share 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 is a boost 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 is 35.44%.

Hedge Funds Weigh In On Macy's

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Coldstream Capital Management Inc. grew its stake in shares of Macy's by 4.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 15,442 shares of the company's stock worth $261,000 after purchasing an additional 717 shares during the period. Treasurer of the State of North Carolina grew its stake in Macy's by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 120,414 shares of the company's stock valued at $2,039,000 after acquiring an additional 760 shares during the last quarter. Quantinno Capital Management LP grew its stake in Macy's by 0.9% in the 4th quarter. Quantinno Capital Management LP now owns 102,538 shares of the company's stock valued at $1,736,000 after acquiring an additional 872 shares during the last quarter. ProShare Advisors LLC grew its stake in Macy's by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 12,978 shares of the company's stock valued at $220,000 after acquiring an additional 924 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Macy's by 1.2% in the 4th quarter. Arizona State Retirement System now owns 80,549 shares of the company's stock valued at $1,364,000 after acquiring an additional 958 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

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.