Macy’s (NYSE:M) Upgraded at Gordon Haskett

Gordon Haskett upgraded shares of Macy’s (NYSE:M) from a hold rating to a buy rating in a research report report published on Monday, MarketBeat reports. Gordon Haskett currently has $20.00 price target on the stock.

A number of other research firms have also recently weighed in on M. Guggenheim restated a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. StockNews.com lowered Macy’s from a “buy” rating to a “hold” rating in a research note on Friday, December 13th. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 target price on shares of Macy’s in a research note on Wednesday, December 11th. Finally, Morgan Stanley dropped their price target on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Macy’s currently has a consensus rating of “Hold” and an average price target of $18.56.

Macy’s Stock Performance

NYSE:M opened at $15.85 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.34 and a current ratio of 1.26. The stock has a 50-day simple moving average of $15.85 and a two-hundred day simple moving average of $16.42. The firm has a market capitalization of $4.40 billion, a PE ratio of 26.86 and a beta of 2.10. Macy’s has a 52-week low of $14.06 and a 52-week high of $22.10.

Macy’s (NYSE:M) last released its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company posted $0.21 earnings per share. The company’s revenue was down 2.4% compared to the same quarter last year. Analysts forecast that Macy’s will post 2.38 EPS for the current year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s payout ratio is 116.95%.

Hedge Funds Weigh In On Macy’s

Large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in Macy’s by 589.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 33,240 shares of the company’s stock worth $645,000 after buying an additional 28,420 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Macy’s by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock valued at $851,000 after acquiring an additional 761 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Macy’s by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock valued at $61,162,000 after purchasing an additional 37,254 shares during the period. Bailard Inc. grew its stake in Macy’s by 64.4% in the second quarter. Bailard Inc. now owns 32,953 shares of the company’s stock worth $633,000 after purchasing an additional 12,913 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Macy’s by 33.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 213,218 shares of the company’s stock worth $4,094,000 after purchasing an additional 53,471 shares during the period. 87.36% of the stock is owned by hedge funds and other 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.