Macy’s (NYSE:M) Rating Increased to Buy at Gordon Haskett

Gordon Haskett upgraded shares of Macy’s (NYSE:M) from a hold rating to a buy rating in a research note published on Monday morning, MarketBeat Ratings reports. Gordon Haskett currently has $20.00 target price on the stock.

A number of other research analysts have also recently issued reports on M. Morgan Stanley decreased their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Guggenheim reiterated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. StockNews.com downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research note on Wednesday, December 11th. Finally, UBS Group dropped their price objective on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.56.

Macy’s Stock Performance

Shares of NYSE:M opened at $16.72 on Monday. The stock has a market capitalization of $4.64 billion, a P/E ratio of 28.34 and a beta of 2.10. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. Macy’s has a 1-year low of $14.06 and a 1-year high of $22.10. The business has a 50-day moving average price of $15.82 and a two-hundred day moving average price of $16.44.

Macy’s (NYSE:M) last posted its quarterly earnings results 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 company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the business earned $0.21 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts predict that Macy’s will post 2.38 earnings per share for the current year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s dividend payout ratio is presently 116.95%.

Hedge Funds Weigh In On Macy’s

Large investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new position in shares of Macy’s during the 3rd quarter worth approximately $35,000. Venturi Wealth Management LLC grew its position in 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 buying an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Macy’s during the 3rd quarter worth $39,000. Abich Financial Wealth Management LLC bought a new position in Macy’s during the 2nd quarter worth $57,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Macy’s during the 2nd quarter valued at $62,000. 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.