Macy’s, Inc. (NYSE:M) Given Consensus Rating of “Reduce” by Brokerages

Shares of Macy’s, Inc. (NYSE:M) have earned an average rating of “Reduce” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $18.90.

M has been the topic of several research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price objective on shares of Macy’s in a report on Wednesday, March 18th. Evercore upped their target price on Macy’s from $14.00 to $21.00 and gave the company a “cautious” rating in a research report on Friday, December 5th. Guggenheim started coverage on Macy’s in a research note on Tuesday, December 9th. They set a “neutral” rating on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $20.00 price target (down from $25.00) on shares of Macy’s in a research report on Wednesday, March 18th. Finally, Zacks Research cut Macy’s from a “hold” rating to a “strong sell” rating in a research note on Friday, March 13th.

Macy’s Trading Down 2.9%

Shares of Macy’s stock opened at $17.95 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $19.91 and a 200-day simple moving average of $20.14. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 7.74 and a beta of 1.51. Macy’s has a 12-month low of $9.76 and a 12-month high of $24.41.

Macy’s (NYSE:M) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.55 by $0.12. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The firm had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.48 billion. During the same period last year, the business earned $1.80 EPS. Macy’s’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities analysts forecast that Macy’s will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.1915 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, March 13th. Macy’s’s dividend payout ratio is 33.19%.

Institutional Trading of Macy’s

A number of hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its stake in shares of Macy’s by 112.1% in the 4th quarter. Hsbc Holdings PLC now owns 383,947 shares of the company’s stock valued at $8,442,000 after purchasing an additional 202,906 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Macy’s by 51.9% in the fourth quarter. Corient Private Wealth LLC now owns 292,216 shares of the company’s stock valued at $6,444,000 after purchasing an additional 99,832 shares during the period. Pacer Advisors Inc. raised its stake in shares of Macy’s by 1,859.1% during the fourth quarter. Pacer Advisors Inc. now owns 1,337,481 shares of the company’s stock worth $29,491,000 after purchasing an additional 1,269,211 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in shares of Macy’s during the fourth quarter worth $271,000. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of Macy’s by 420.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 66,243 shares of the company’s stock worth $1,461,000 after purchasing an additional 53,512 shares during the period. 87.36% of the stock is owned by institutional investors and hedge funds.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.