Telsey Advisory Group Reaffirms Market Perform Rating for Macy’s (NYSE:M)

Telsey Advisory Group reissued their market perform rating on shares of Macy’s (NYSE:M) in a report published on Thursday morning,Benzinga reports. Telsey Advisory Group currently has a $17.00 price objective on the stock.

A number of other research firms have also recently weighed in on M. Gordon Haskett cut Macy’s from a “buy” rating to an “accumulate” rating in a report on Thursday, February 13th. UBS Group cut their target price on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Benchmark raised shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Morgan Stanley lowered their target price on shares of 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, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.14.

Macy’s Price Performance

Shares of NYSE M opened at $14.35 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $15.39 and its 200 day moving average price is $15.58. Macy’s has a 52 week low of $13.66 and a 52 week high of $22.10. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 24.32 and a beta of 2.05.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, research analysts forecast that Macy’s will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently disclosed 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. This is a boost from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 5.08%. Macy’s’s payout ratio is currently 116.95%.

Institutional Investors Weigh In On Macy’s

Institutional investors have recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC acquired a new stake in shares of Macy’s in the fourth quarter worth $34,000. Quest Partners LLC acquired a new stake in Macy’s in the 3rd quarter valued at $35,000. Venturi Wealth Management LLC raised its position in Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after purchasing an additional 1,685 shares during the period. Jones Financial Companies Lllp raised its position in Macy’s by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after purchasing an additional 969 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Macy’s during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

About Macy’s

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.