Macy’s (NYSE:M) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Macy’s (NYSE:M) in a research note released on Thursday morning. The brokerage issued a hold rating on the stock.

M has been the topic of several other reports. Telsey Advisory Group reissued a market perform rating and set a $21.00 target price on shares of Macy’s in a research note on Tuesday, May 21st. JPMorgan Chase & Co. boosted their target price on Macy’s from $25.00 to $27.00 and gave the company an overweight rating in a research report on Wednesday, May 22nd. TD Cowen upped their price target on Macy’s from $20.00 to $21.00 and gave the stock a hold rating in a research note on Wednesday, May 22nd. Morgan Stanley reduced their price objective on Macy’s from $21.00 to $20.00 and set an equal weight rating for the company in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group upped their target price on Macy’s from $16.00 to $22.00 and gave the stock a buy rating in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Macy’s presently has an average rating of Hold and a consensus price target of $17.70.

Macy’s Stock Up 2.7 %

Shares of NYSE:M opened at $19.20 on Thursday. The business has a fifty day simple moving average of $19.08 and a 200 day simple moving average of $19.29. Macy’s has a 12-month low of $10.54 and a 12-month high of $22.10. The firm has a market cap of $5.31 billion, a P/E ratio of 640.00 and a beta of 2.16. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:M) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the business earned $0.56 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. Analysts predict that Macy’s will post 2.79 earnings per share for the current year.

Macy’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Friday, June 14th. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Institutional Investors Weigh In On Macy’s

A number of hedge funds and other institutional investors have recently bought and sold shares of M. Vanguard Group Inc. lifted its holdings in shares of Macy’s by 7.8% in the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after buying an additional 2,645,577 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Macy’s by 15.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock valued at $249,456,000 after purchasing an additional 1,685,986 shares during the period. AQR Capital Management LLC grew its position in shares of Macy’s by 48.9% during the 3rd quarter. AQR Capital Management LLC now owns 5,272,297 shares of the company’s stock valued at $61,211,000 after purchasing an additional 1,730,307 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Macy’s by 20.8% in the third quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock worth $38,173,000 after purchasing an additional 565,269 shares during the period. Finally, Norges Bank purchased a new stake in shares of Macy’s in the fourth quarter worth $62,529,000. Institutional investors 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.