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

StockNews.com initiated coverage on shares of Macy’s (NYSE:M) in a report released on Thursday. The firm issued a hold rating on the stock.

Several other equities analysts have also recently commented on the stock. Morgan Stanley cut their target price 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. Argus upgraded shares of Macy’s to a “hold” rating in a research note on Thursday, October 10th. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. Finally, Evercore ISI cut their target price on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.43.

Macy’s Price Performance

Shares of Macy’s stock opened at $16.29 on Thursday. The firm has a fifty day simple moving average of $15.53 and a 200-day simple moving average of $17.48. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. Macy’s has a 1-year low of $10.59 and a 1-year high of $22.10. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 543.00 and a beta of 2.11.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping 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 business had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the previous year, the company earned $0.26 earnings per share. Macy’s’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts expect that Macy’s will post 2.72 earnings per share for the current year.

Macy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Friday, September 13th. Macy’s’s dividend payout ratio is 2,300.00%.

Hedge Funds Weigh In On Macy’s

A number of hedge funds have recently made changes to their positions in the business. BCS Wealth Management acquired a new stake in shares of Macy’s during the 3rd quarter worth about $158,000. nVerses Capital LLC acquired a new stake in shares of Macy’s during the 3rd quarter worth about $290,000. Vontobel Holding Ltd. increased its position in shares of Macy’s by 54.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 31,860 shares of the company’s stock worth $500,000 after purchasing an additional 11,276 shares in the last quarter. Jamison Private Wealth Management Inc. increased its position in Macy’s by 12.7% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 14,026 shares of the company’s stock valued at $220,000 after acquiring an additional 1,580 shares in the last quarter. Finally, Wedmont Private Capital increased its position in Macy’s by 31.1% in the 3rd quarter. Wedmont Private Capital now owns 18,887 shares of the company’s stock valued at $290,000 after acquiring an additional 4,484 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

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.