Macy’s (NYSE:M) Price Target Cut to $9.00 by Analysts at UBS Group

Macy’s (NYSE:M) had its price objective trimmed by UBS Group from $10.00 to $9.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a sell rating on the stock.

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

Macy’s Stock Down 0.6 %

M stock opened at $16.22 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.34 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $15.77 and a two-hundred day moving average of $16.53. Macy’s has a 12 month low of $14.06 and a 12 month high of $22.10. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 27.62 and a beta of 2.10.

Macy’s (NYSE:M) last issued its earnings results 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 company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.74 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.21 earnings per share. As a group, analysts forecast that Macy’s will post 2.38 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Friday, December 13th. Macy’s’s payout ratio is 116.95%.

Institutional Investors Weigh In On Macy’s

Several large investors have recently modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of Macy’s during the third quarter worth about $35,000. Venturi Wealth Management LLC increased its position in Macy’s by 282.7% in the 3rd 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 during the period. Future Financial Wealth Managment LLC purchased a new stake in Macy’s during the 3rd quarter valued at approximately $39,000. Abich Financial Wealth Management LLC acquired a new stake in Macy’s during the 2nd quarter worth approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macy’s in the 2nd quarter valued at approximately $62,000. 87.36% of the stock is owned by institutional investors and hedge funds.

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.