M has been the topic of several other research reports. Credit Suisse Group cut Macy’s from a neutral rating to an underperform rating and cut their price target for the stock from $19.00 to $12.00 in a research note on Friday, October 18th. Bank of America reissued a sell rating and issued a $12.00 price target (down previously from $14.00) on shares of Macy’s in a report on Thursday, November 21st. JPMorgan Chase & Co. restated a sell rating and set a $13.00 price objective (down previously from $14.00) on shares of Macy’s in a research note on Thursday, November 21st. Deutsche Bank dropped their price objective on Macy’s from $22.00 to $18.00 and set a hold rating on the stock in a report on Friday, November 22nd. Finally, Telsey Advisory Group cut their target price on Macy’s from $18.00 to $16.00 and set a market perform rating on the stock in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Macy’s has an average rating of Hold and an average target price of $17.63.
Shares of M stock traded up $0.04 on Tuesday, hitting $15.15. The stock had a trading volume of 17,064,347 shares, compared to its average volume of 11,678,841. Macy’s has a 52-week low of $14.11 and a 52-week high of $32.83. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 3.62, a P/E/G ratio of 0.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.16 and a current ratio of 1.28. The stock’s 50 day moving average is $15.61 and its 200-day moving average is $18.11.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 9.97%. This is an increase from Macy’s’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 12th. Macy’s’s dividend payout ratio (DPR) is 36.12%.
In other news, insider C Elisa D. Garcia sold 5,089 shares of Macy’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $15.48, for a total value of $78,777.72. Following the completion of the transaction, the insider now owns 16,825 shares in the company, valued at approximately $260,451. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in M. BlackRock Inc. raised its position in shares of Macy’s by 1.9% during the 2nd quarter. BlackRock Inc. now owns 30,631,976 shares of the company’s stock worth $657,361,000 after purchasing an additional 558,052 shares during the period. Yacktman Asset Management LP increased its position in Macy’s by 114.9% in the third quarter. Yacktman Asset Management LP now owns 23,761,884 shares of the company’s stock worth $369,260,000 after buying an additional 12,705,052 shares during the period. State Street Corp lifted its stake in Macy’s by 1.8% in the third quarter. State Street Corp now owns 16,572,198 shares of the company’s stock valued at $263,677,000 after buying an additional 300,985 shares during the last quarter. Invesco Ltd. lifted its stake in Macy’s by 62.2% in the second quarter. Invesco Ltd. now owns 5,600,515 shares of the company’s stock valued at $120,187,000 after buying an additional 2,148,243 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Macy’s by 27.8% during the second quarter. Prudential Financial Inc. now owns 4,474,936 shares of the company’s stock valued at $96,032,000 after acquiring an additional 973,117 shares during the period. Hedge funds and other institutional investors own 90.76% of the company’s stock.
Macy’s Company Profile
Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.
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