Macy’s (NYSE:M) Earns Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Macy’s (NYSE:M) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $17.00 price target on the stock.

M has been the subject of a number of other research reports. Morgan Stanley dropped their price objective on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.38.

Macy’s Stock Up 2.7 %

Shares of NYSE:M opened at $16.57 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 28.08 and a beta of 2.10. The company has a 50 day moving average of $15.79 and a 200-day moving average of $16.51. Macy’s has a one year low of $14.06 and a one year high of $22.10.

Macy’s (NYSE:M) last released its earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Macy’s’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. On average, sell-side analysts forecast that Macy’s will post 2.38 earnings per share for the current year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.1737 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.19%. Macy’s’s payout ratio is 116.95%.

Institutional Investors Weigh In On Macy’s

A number of hedge funds and other institutional investors have recently made changes to their positions in M. Charles Schwab Investment Management Inc. boosted its stake in Macy’s by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock worth $41,765,000 after purchasing an additional 118,626 shares during the period. FMR LLC raised its stake in shares of Macy’s by 4.4% in the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after purchasing an additional 195,880 shares during the period. Alerus Financial NA bought a new stake in shares of Macy’s in the third quarter valued at about $2,144,000. WINTON GROUP Ltd boosted its position in shares of Macy’s by 96.4% during the second quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock worth $2,047,000 after buying an additional 52,337 shares during the period. Finally, Royce & Associates LP grew its holdings in shares of Macy’s by 5.2% during the third quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock worth $22,280,000 after buying an additional 70,000 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

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.