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Macy's, Inc. (NYSE:M) Given Consensus Rating of "Hold" by Brokerages

Macy's logo with Retail/Wholesale background

Macy's, Inc. (NYSE:M - Get Free Report) has received a consensus recommendation of "Hold" from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $13.20.

M has been the topic of several recent research reports. Gordon Haskett lowered Macy's from an "accumulate" rating to a "hold" rating in a report on Thursday, March 6th. New Street Research set a $13.00 price target on shares of Macy's in a research note on Thursday, March 6th. JPMorgan Chase & Co. reduced their price objective on shares of Macy's from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Barclays began coverage on Macy's in a research note on Monday, April 28th. They issued a "cautious" rating and a $12.00 price target on the stock. Finally, Cowen restated a "hold" rating on shares of Macy's in a research report on Friday, March 7th.

Read Our Latest Report on Macy's

Macy's Stock Performance

M stock traded up $0.32 on Friday, reaching $11.67. 9,051,804 shares of the company were exchanged, compared to its average volume of 6,687,809. The firm has a market capitalization of $3.17 billion, a PE ratio of 5.92 and a beta of 1.74. Macy's has a 12 month low of $9.76 and a 12 month high of $20.47. The stock's fifty day moving average price is $11.63 and its 200 day moving average price is $13.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.43 and a quick ratio of 0.37.

Macy's (NYSE:M - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. Macy's had a net margin of 2.45% and a return on equity of 16.34%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. The business's revenue was down 5.1% compared to the same quarter last year. On average, research analysts anticipate that Macy's will post 2.39 EPS for the current fiscal year.

Macy's Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend is Friday, June 13th. Macy's's dividend payout ratio (DPR) is 37.06%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in M. Summit Securities Group LLC raised its holdings in Macy's by 106.0% in the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company's stock worth $28,000 after purchasing an additional 38,800 shares during the period. Headlands Technologies LLC acquired a new position in Macy's during the first quarter worth $29,000. Jones Financial Companies Lllp grew its holdings in shares of Macy's by 82.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company's stock valued at $36,000 after acquiring an additional 969 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Macy's by 495.5% during the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company's stock worth $58,000 after purchasing an additional 2,839 shares during the last quarter. Finally, Quarry LP acquired a new position in Macy's during the first quarter worth $105,000. Institutional investors and hedge funds own 87.36% of the company's stock.

About Macy's

(Get Free Report

Macy's, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm's brands include Macy's, Bloomingdale's, and Bluemercury. It offers men's, women's, and children's apparel, women's accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.

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Analyst Recommendations for Macy's (NYSE:M)

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