BMO Capital Markets set a $38.00 target price on Macy's (NYSE:M) in a research report sent to investors on Friday. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on M. ValuEngine cut shares of Macy's from a buy rating to a hold rating in a report on Sunday, December 31st. Cowen reissued a hold rating and set a $23.00 target price on shares of Macy's in a report on Thursday, September 28th. Vetr raised shares of Macy's from a buy rating to a strong-buy rating and set a $29.84 price objective for the company in a report on Tuesday, January 2nd. Zacks Investment Research cut shares of Macy's from a hold rating to a sell rating in a report on Wednesday, November 8th. Finally, Telsey Advisory Group lifted their price objective on shares of Macy's from $25.00 to $28.00 and gave the company a market perform rating in a report on Thursday, December 28th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Macy's has a consensus rating of Hold and an average target price of $25.91.

Macy's (M) opened at $24.44 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. Macy's has a fifty-two week low of $17.41 and a fifty-two week high of $34.37. The stock has a market cap of $7,440.00, a price-to-earnings ratio of 10.77, a P/E/G ratio of 0.79 and a beta of 0.97.

Macy's (NYSE:M) last issued its earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.04. Macy's had a net margin of 2.83% and a return on equity of 21.20%. The firm had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter last year, the company posted $0.17 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. analysts forecast that Macy's will post 3.63 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were paid a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.18%. Macy's’s dividend payout ratio is currently 66.52%.

Several hedge funds have recently added to or reduced their stakes in M. Prudential Financial Inc. increased its stake in shares of Macy's by 75.3% during the third quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after purchasing an additional 2,153,110 shares in the last quarter. Alps Advisors Inc. acquired a new position in Macy's during the third quarter worth about $46,431,000. Discovery Capital Management LLC CT boosted its position in Macy's by 239.0% during the second quarter. Discovery Capital Management LLC CT now owns 2,871,297 shares of the company’s stock worth $66,729,000 after acquiring an additional 2,024,297 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Macy's by 30.9% during the third quarter. Dimensional Fund Advisors LP now owns 6,969,989 shares of the company’s stock worth $152,091,000 after acquiring an additional 1,646,858 shares during the last quarter. Finally, Contrarius Investment Management Ltd boosted its position in Macy's by 827.4% during the third quarter. Contrarius Investment Management Ltd now owns 1,575,547 shares of the company’s stock worth $34,378,000 after acquiring an additional 1,405,656 shares during the last quarter. 82.04% of the stock is owned by institutional investors and hedge funds.

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Macy's Company Profile

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.

Analyst Recommendations for Macy's (NYSE:M)

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