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Shares of Macy's (NYSE:M) have received an average rating of “Buy” from the sixteen ratings firms that are currently covering the stock, American Banking News.com reports. Two analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $63.79.

Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus raised their price target on shares of Macy's from $64.00 to $70.00 in a research note on Friday, August 22nd. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Macy's from $60.00 to $67.00 in a research note on Thursday, August 21st. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Macy's in a research note on Thursday, August 14th. They now have a $59.00 price target on the stock.

Macy's (NYSE:M) opened at 62.43 on Friday. Macy's has a 52-week low of $42.18 and a 52-week high of $63.10. The stock’s 50-day moving average is $59.24 and its 200-day moving average is $58.24. The company has a market cap of $22.069 billion and a P/E ratio of 15.50.

Macy's (NYSE:M) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.06. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.30 billion. On average, analysts predict that Macy's will post $4.42 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, September 11th.

In other Macy's news, CFO Karen M. Hoguet sold 37,140 shares of the company’s stock on the open market in a transaction dated Thursday, August 28th. The shares were sold at an average price of $62.00, for a total value of $2,302,680.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Macy’s, Inc (NYSE:M) is a retail organization operating stores and Internet Websites under two brands (Macy’s and Bloomingdale’s) that sell a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico.

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