Macy’s (NYSE:M) Upgraded to “Buy” at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Macy’s (NYSE:M – Free Report) from a hold rating to a buy rating in a research report released on Tuesday morning.

Other equities research analysts have also recently issued research reports about the company. Gordon Haskett upgraded Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, December 16th. Morgan Stanley reduced their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Argus upgraded Macy’s to a “hold” rating in a report on Thursday, October 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a report on Tuesday. Finally, UBS Group reduced their target price on Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Macy’s presently has an average rating of “Hold” and an average target price of $17.78.

Get Our Latest Research Report on M

Macy’s Price Performance

M stock opened at $14.04 on Tuesday. Macy’s has a 52-week low of $14.01 and a 52-week high of $22.10. The stock’s fifty day simple moving average is $16.18 and its 200-day simple moving average is $16.13. The company has a quick ratio of 0.34, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 23.80 and a beta of 2.07.

Macy’s (NYSE:M – Get Free Report) last posted its quarterly earnings data 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 business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the business earned $0.21 EPS. Macy’s’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts expect that Macy’s will post 2.4 EPS for the current year.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend was Friday, December 13th. Macy’s’s dividend payout ratio is presently 116.95%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of M. Quest Partners LLC acquired a new position in shares of Macy’s during the third quarter worth about $35,000. Venturi Wealth Management LLC lifted its stake in shares of 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 in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Macy’s during the third quarter worth about $39,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Macy’s during the second quarter worth about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Macy’s during the second quarter worth about $62,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

(Get Free Report)

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.

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