Macy’s (NYSE:M) Trading Down 2.1% – Time to Sell?

by · The Markets Daily

Macy’s, Inc. (NYSE:M – Get Free Report)’s share price was down 2.1% during trading on Friday . The stock traded as low as $13.19 and last traded at $13.18. Approximately 1,191,140 shares traded hands during trading, a decline of 83% from the average daily volume of 7,070,607 shares. The stock had previously closed at $13.46.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on M shares. Telsey Advisory Group set a $15.00 target price on shares of Macy’s in a report on Friday, March 7th. Morgan Stanley set a $14.00 target price on Macy’s in a report on Monday. UBS Group dropped their price target on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 7th. Cowen reissued a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. Finally, Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.56.

View Our Latest Report on M

Macy’s Stock Performance

The firm’s 50-day moving average price is $14.85 and its 200-day moving average price is $15.42. The stock has a market cap of $3.66 billion, a P/E ratio of 22.33 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy’s (NYSE:M – Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. Sell-side analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.1824 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 5.54%. This is a boost from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is 35.44%.

Hedge Funds Weigh In On Macy’s

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Trifecta Capital Advisors LLC bought a new stake in Macy’s during the 4th quarter valued at $34,000. Quest Partners LLC bought a new position in shares of Macy’s during the 3rd quarter worth approximately $35,000. Venturi Wealth Management LLC boosted its stake in Macy’s by 282.7% in the third quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after acquiring an additional 1,685 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Macy’s by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after purchasing an additional 969 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Macy’s during the 4th quarter valued at about $38,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

(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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