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

by · The Markets Daily

StockNews.com initiated coverage on shares of Macy’s (NYSE:M – Free Report) in a research note published on Wednesday. The brokerage issued a hold rating on the stock.

Several other equities research analysts also recently issued reports on M. Evercore ISI cut their price objective on Macy’s from $22.00 to $17.00 and set an in-line rating on the stock in a report on Tuesday, July 16th. Telsey Advisory Group reiterated a market perform rating and set a $21.00 price target on shares of Macy’s in a research note on Wednesday, August 21st. Finally, Morgan Stanley lowered their price objective on shares of Macy’s from $18.00 to $17.00 and set an equal weight rating for the company in a research note on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $20.43.

Read Our Latest Stock Report on M

Macy’s Stock Up 2.2 %

Shares of NYSE M opened at $15.78 on Wednesday. The company has a market capitalization of $4.36 billion, a P/E ratio of 526.00 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The company has a 50 day simple moving average of $15.50 and a 200-day simple moving average of $17.58. Macy’s has a 1 year low of $10.54 and a 1 year high of $22.10.

Macy’s (NYSE:M – Get Free Report) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.30 by $0.23. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $5.06 billion. Macy’s had a return on equity of 23.14% and a net margin of 0.80%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 EPS. On average, equities research analysts predict that Macy’s will post 2.72 earnings per share for the current year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $0.1737 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.40%. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in M. Dimensional Fund Advisors LP grew its position in Macy’s by 9.8% during 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 last quarter. LSV Asset Management increased its position in Macy’s by 1.3% in 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. American Century Companies Inc. increased its position in Macy’s by 18.9% in the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after acquiring an additional 747,542 shares during the period. Marshall Wace LLP raised its stake in Macy’s by 1,539.5% during the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock valued at $67,871,000 after acquiring an additional 3,319,337 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Macy’s by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock worth $61,162,000 after acquiring an additional 37,254 shares during the period. Hedge funds and other institutional investors own 87.36% of the company’s stock.

About Macy’s

(Get Free Report)

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.

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