Macy's, Inc. (NYSE:M) Given Average Recommendation of "Hold" by Analysts

Macy's, Inc. (NYSE:M - Get Free Report) has been assigned an average recommendation of "Hold" from the twelve brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $12.78.

Several brokerages recently issued reports on M. The Goldman Sachs Group lowered Macy's from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $17.00 to $12.00 in a research report on Tuesday, April 22nd. Citigroup reaffirmed a "neutral" rating and set a $12.00 target price (up from $11.00) on shares of Macy's in a research report on Thursday, May 29th. Telsey Advisory Group lowered their target price on Macy's from $15.00 to $14.00 and set a "market perform" rating for the company in a research report on Thursday, May 29th. Morgan Stanley reiterated a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price target on Macy's from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, May 29th.

Institutional Investors Weigh In On Macy's

A number of hedge funds have recently modified their holdings of M. Dimensional Fund Advisors LP grew its stake in Macy's by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 15,964,002 shares of the company's stock valued at $200,510,000 after buying an additional 212,791 shares in the last quarter. American Century Companies Inc. grew its stake in Macy's by 21.9% in the 1st quarter. American Century Companies Inc. now owns 8,699,534 shares of the company's stock valued at $109,266,000 after buying an additional 1,562,402 shares in the last quarter. Cooper Creek Partners Management LLC grew its stake in Macy's by 26.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company's stock valued at $132,701,000 after buying an additional 1,627,572 shares in the last quarter. FMR LLC grew its stake in Macy's by 59.9% in the 4th quarter. FMR LLC now owns 7,503,742 shares of the company's stock valued at $127,038,000 after buying an additional 2,812,151 shares in the last quarter. Finally, RWC Asset Management LLP purchased a new position in Macy's in the 1st quarter valued at approximately $80,868,000. Institutional investors own 87.36% of the company's stock.

Macy's Trading Up 3.0%

NYSE:M traded up $0.39 during trading hours on Tuesday, hitting $13.09. 6,730,074 shares of the company were exchanged, compared to its average volume of 7,090,456. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 6.64 and a beta of 1.71. The company has a current ratio of 1.43, a quick ratio of 0.37 and a debt-to-equity ratio of 0.62. Macy's has a one year low of $9.76 and a one year high of $18.13. The company has a fifty day simple moving average of $11.94 and a 200 day simple moving average of $12.84.

Macy's (NYSE:M - Get Free Report) last announced its earnings results 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. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.38 billion. Macy's had a return on equity of 16.34% and a net margin of 2.45%. Macy's's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.27 EPS. Sell-side analysts expect that Macy's will post 2.39 EPS for the current fiscal year.

Macy's Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $0.1824 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.58%. Macy's's dividend payout ratio (DPR) is presently 37.06%.

About Macy's

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.