UBS Group Cuts Macy’s (NYSE:M) Price Target to $9.00

Macy’s (NYSE:M) had its target price decreased by UBS Group from $10.00 to $9.00 in a research note released on Thursday morning,Benzinga reports. UBS Group currently has a sell rating on the stock.

Other research analysts have also recently issued research reports about the stock. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 target price on shares of Macy’s in a report on Wednesday. Guggenheim reissued a “neutral” rating on shares of Macy’s in a research report on Thursday. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley cut their target price on Macy’s from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.38.

Macy’s Trading Up 2.6 %

Shares of Macy’s stock opened at $16.56 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.34. Macy’s has a 1 year low of $14.06 and a 1 year high of $22.10. The firm has a market cap of $4.59 billion, a PE ratio of 28.07 and a beta of 2.10. The company has a 50 day simple moving average of $15.79 and a two-hundred day simple moving average of $16.48.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Macy’s’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. Analysts expect that Macy’s will post 2.38 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.1737 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.20%. Macy’s’s dividend payout ratio is presently 116.95%.

Institutional Trading of Macy’s

Large investors have recently modified their holdings of the company. CWM LLC increased its holdings in Macy’s by 7.7% during the second quarter. CWM LLC now owns 8,398 shares of the company’s stock valued at $161,000 after buying an additional 598 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in shares of Macy’s by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock worth $851,000 after purchasing an additional 761 shares in the last quarter. United Services Automobile Association raised its holdings in Macy’s by 4.8% in the 2nd quarter. United Services Automobile Association now owns 22,038 shares of the company’s stock worth $423,000 after purchasing an additional 1,012 shares during the period. Federated Hermes Inc. lifted its position in Macy’s by 2.5% during the second quarter. Federated Hermes Inc. now owns 44,337 shares of the company’s stock valued at $851,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Affinity Capital Advisors LLC lifted its position in Macy’s by 11.5% during the third quarter. Affinity Capital Advisors LLC now owns 12,116 shares of the company’s stock valued at $190,000 after purchasing an additional 1,248 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.