Several other research analysts have also weighed in on M. Cowen reiterated a hold rating and set a $23.00 target price on shares of Macy's in a report on Thursday, September 28th. ValuEngine upgraded Macy's from a hold rating to a buy rating in a report on Monday, October 2nd. Zacks Investment Research lowered Macy's from a hold rating to a sell rating in a report on Wednesday, October 11th. Susquehanna Bancshares set a $38.00 target price on Macy's and gave the stock a buy rating in a report on Friday, October 20th. Finally, Citigroup lowered Macy's from a neutral rating to a sell rating and reduced their target price for the stock from $21.00 to $16.00 in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Macy's currently has a consensus rating of Hold and an average target price of $26.27.
Macy's (NYSE:M) traded up $0.41 during trading hours on Friday, hitting $27.01. The stock had a trading volume of 5,615,214 shares, compared to its average volume of 12,550,000. Macy's has a 1-year low of $17.41 and a 1-year high of $34.37. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.29 and a quick ratio of 0.19. The company has a market cap of $8,230.00, a price-to-earnings ratio of 11.90, a P/E/G ratio of 0.86 and a beta of 0.97.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend was Thursday, December 14th. Macy's’s dividend payout ratio is 66.52%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC increased its position in shares of Macy's by 163.1% in the second quarter. Voya Investment Management LLC now owns 451,225 shares of the company’s stock valued at $10,487,000 after acquiring an additional 279,720 shares during the last quarter. Douglas Lane & Associates LLC increased its position in shares of Macy's by 57.8% in the third quarter. Douglas Lane & Associates LLC now owns 2,243,096 shares of the company’s stock valued at $48,944,000 after acquiring an additional 821,366 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Macy's by 75.3% in the third quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock valued at $109,392,000 after acquiring an additional 2,153,110 shares during the last quarter. Benchmark Capital Advisors acquired a new stake in shares of Macy's in the third quarter valued at about $1,335,000. Finally, Empirical Finance LLC acquired a new stake in shares of Macy's in the third quarter valued at about $1,221,000. 82.07% of the stock is currently owned by hedge funds and other institutional investors.
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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