Macy’s (NYSE:M) Price Target Raised to $9.00

Macy’s (NYSE:M) had its target price boosted by UBS Group from $8.00 to $9.00 in a research report released on Monday morning,Benzinga reports. UBS Group currently has a sell rating on the stock.

M has been the topic of several other research reports. Telsey Advisory Group boosted their price target on shares of Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a research note on Thursday, December 4th. The Goldman Sachs Group lifted their target price on Macy’s from $16.50 to $22.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Citigroup reiterated a “neutral” rating on shares of Macy’s in a research report on Wednesday, February 18th. Morgan Stanley increased their price target on Macy’s from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, December 5th. Finally, TD Cowen restated a “hold” rating on shares of Macy’s in a report on Thursday, December 4th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Macy’s has an average rating of “Reduce” and an average price target of $20.00.

Macy’s Price Performance

Shares of NYSE:M opened at $17.47 on Monday. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 10.33 and a beta of 1.51. The firm has a fifty day moving average price of $21.02 and a 200 day moving average price of $19.90. Macy’s has a fifty-two week low of $9.76 and a fifty-two week high of $24.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.18 and a current ratio of 1.25.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.1915 per share. This represents a $0.77 annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, March 13th. This is a boost from Macy’s’s previous quarterly dividend of $0.18. Macy’s’s payout ratio is currently 43.20%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hennessy Advisors Inc. bought a new stake in shares of Macy’s in the 3rd quarter worth about $44,362,000. Y Intercept Hong Kong Ltd bought a new position in Macy’s during the 3rd quarter valued at about $3,307,000. Allianz Asset Management GmbH grew its holdings in Macy’s by 2.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 3,223,138 shares of the company’s stock valued at $57,791,000 after purchasing an additional 65,395 shares during the last quarter. SummerHaven Investment Management LLC purchased a new stake in Macy’s in the 3rd quarter worth about $1,192,000. Finally, Prudential Financial Inc. lifted its stake in Macy’s by 4.6% in the second quarter. Prudential Financial Inc. now owns 389,238 shares of the company’s stock worth $4,539,000 after purchasing an additional 17,209 shares during the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.