Macy’s (NYSE:M) Upgraded at Gordon Haskett

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

Other research analysts have also recently issued research reports about the stock. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. UBS Group cut their price target 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. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Morgan Stanley cut their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 12th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 price target on shares of Macy’s in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Macy’s currently has a consensus rating of “Hold” and a consensus target price of $18.56.

Macy’s Price Performance

M stock opened at $15.85 on Monday. The firm has a 50 day simple moving average of $15.85 and a two-hundred day simple moving average of $16.42. The stock has a market cap of $4.40 billion, a PE ratio of 26.86 and a beta of 2.10. Macy’s has a one year low of $14.06 and a one year high of $22.10. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34.

Macy’s (NYSE:M) last issued 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). The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. On average, analysts predict that Macy’s will post 2.38 EPS for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s dividend payout ratio is currently 116.95%.

Institutional Trading of Macy’s

A number of institutional investors have recently made changes to their positions in M. Quest Partners LLC bought a new stake in shares of Macy’s in the third quarter worth $35,000. Venturi Wealth Management LLC boosted its position in Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after purchasing an additional 1,685 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Macy’s during the 3rd quarter valued at about $39,000. Abich Financial Wealth Management LLC bought a new position in shares of Macy’s in the 2nd quarter worth approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macy’s in the second quarter worth approximately $62,000. Hedge funds and other 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.