Macy’s, Inc. (NYSE:M) Receives $15.30 Consensus PT from Analysts

Shares of Macy’s, Inc. (NYSE:M) have been assigned a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $15.30.

Several equities analysts have weighed in on M shares. Citigroup dropped their target price on Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Telsey Advisory Group set a $15.00 price objective on shares of Macy’s in a report on Friday, March 7th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. JPMorgan Chase & Co. downgraded shares of Macy’s from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $19.00 to $14.00 in a research note on Thursday, March 6th. Finally, StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th.

Macy’s Stock Performance

NYSE:M opened at $13.62 on Wednesday. The stock has a market capitalization of $3.78 billion, a P/E ratio of 23.08 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. Macy’s has a fifty-two week low of $12.60 and a fifty-two week high of $20.70. The company has a 50 day moving average price of $14.43 and a 200 day moving average price of $15.31.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Equities research analysts forecast that Macy’s will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 5.36%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. Macy’s’s payout ratio is 35.44%.

Institutional Investors Weigh In On Macy’s

Several institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its stake in Macy’s by 22.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,731 shares of the company’s stock worth $486,000 after acquiring an additional 5,332 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Macy’s during the fourth quarter worth about $2,591,000. Forum Financial Management LP acquired a new stake in shares of Macy’s during the fourth quarter worth about $177,000. Vise Technologies Inc. lifted its holdings in shares of Macy’s by 37.2% in the 4th quarter. Vise Technologies Inc. now owns 23,129 shares of the company’s stock valued at $392,000 after purchasing an additional 6,266 shares during the last quarter. Finally, MidWestOne Financial Group Inc. boosted its position in shares of Macy’s by 14.5% in the 4th quarter. MidWestOne Financial Group Inc. now owns 135,646 shares of the company’s stock valued at $2,296,000 after purchasing an additional 17,167 shares during the period. 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.