Macy’s, Inc. (NYSE:M) Receives $20.43 Average Target Price from Brokerages

Macy’s, Inc. (NYSE:M) has earned an average rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $20.43.

M has been the subject of a number of research reports. StockNews.com initiated coverage on Macy’s in a report on Sunday, November 10th. They issued a “hold” rating for the company. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley decreased their price objective on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Finally, Telsey Advisory Group restated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a report on Wednesday, August 21st.

Macy’s Price Performance

Shares of NYSE M opened at $15.49 on Thursday. Macy’s has a 1-year low of $13.10 and a 1-year high of $22.10. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $15.39 and a two-hundred day simple moving average of $16.96. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 24.20 and a beta of 2.11.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the company posted $0.26 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. Analysts anticipate that Macy’s will post 2.72 earnings per share for the current year.

Macy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.49%. Macy’s’s dividend payout ratio (DPR) is presently 107.81%.

Institutional Investors Weigh In On Macy’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Macy’s by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock worth $297,385,000 after purchasing an additional 1,379,476 shares during the period. LSV Asset Management grew its position in shares of Macy’s by 1.3% during the 2nd quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock valued at $103,184,000 after acquiring an additional 68,300 shares during the period. Geode Capital Management LLC grew its position in shares of Macy’s by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,023,790 shares of the company’s stock valued at $79,110,000 after acquiring an additional 128,258 shares during the period. American Century Companies Inc. increased its stake in shares of Macy’s by 18.9% in the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock worth $90,333,000 after purchasing an additional 747,542 shares in the last quarter. Finally, FMR LLC raised its holdings in Macy’s by 4.4% in the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after purchasing an additional 195,880 shares during the period. Hedge funds and other 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.