Macy’s, Inc. (NYSE:M – Get Free Report) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $14.05 and last traded at $14.06, with a volume of 8064926 shares changing hands. The stock had previously closed at $14.56.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Gordon Haskett raised Macy’s from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, December 16th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Argus upgraded shares of Macy’s to a “hold” rating in a report on Thursday, October 10th. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley reduced their target price on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.78.
Macy’s Stock Performance
Macy’s (NYSE:M – Get Free Report) last posted its earnings results on Wednesday, December 11th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. As a group, equities research analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.
Macy’s Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend was Friday, December 13th. Macy’s’s payout ratio is 116.95%.
Hedge Funds Weigh In On Macy’s
A number of institutional investors have recently made changes to their positions in M. HB Wealth Management LLC increased its position in shares of Macy’s by 724.1% during the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock valued at $1,754,000 after purchasing an additional 91,015 shares during the last quarter. Tompkins Financial Corp bought a new position in Macy’s during the fourth quarter valued at approximately $102,000. Lind Value II ApS bought a new position in Macy’s during the fourth quarter valued at approximately $6,733,000. FNY Investment Advisers LLC raised its stake in shares of Macy’s by 65.5% during the fourth quarter. FNY Investment Advisers LLC now owns 7,500 shares of the company’s stock worth $126,000 after acquiring an additional 2,967 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of Macy’s by 17.2% in the 4th quarter. Wedmont Private Capital now owns 22,141 shares of the company’s stock worth $351,000 after acquiring an additional 3,254 shares during 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.
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