Macy’s (NYSE:M) Upgraded at StockNews.com

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

A number of other research firms also recently commented on M. Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 target price on shares of Macy’s in a report on Tuesday. Argus raised shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. Finally, Morgan Stanley lowered their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Macy’s has a consensus rating of “Hold” and an average price target of $19.86.

Macy’s Stock Performance

Shares of M opened at $15.96 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The stock has a 50-day moving average of $15.49 and a two-hundred day moving average of $16.76. The stock has a market cap of $4.43 billion, a P/E ratio of 24.94 and a beta of 2.11. Macy’s has a one year low of $14.06 and a one year high of $22.10.

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 given a $0.1737 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.35%. Macy’s’s dividend payout ratio (DPR) is currently 107.81%.

Institutional Trading of Macy’s

Several institutional investors have recently bought and sold shares of M. Price T Rowe Associates Inc. MD grew its position in shares of Macy’s by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 141,529 shares of the company’s stock valued at $2,830,000 after purchasing an additional 8,403 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in Macy’s by 32.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,943 shares of the company’s stock valued at $339,000 after buying an additional 4,122 shares in the last quarter. Tidal Investments LLC purchased a new stake in Macy’s during the 1st quarter worth approximately $392,000. Virtu Financial LLC acquired a new position in shares of Macy’s during the first quarter valued at approximately $1,043,000. Finally, CWM LLC lifted its position in shares of Macy’s by 7.7% in the second quarter. CWM LLC now owns 8,398 shares of the company’s stock valued at $161,000 after acquiring an additional 598 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

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.