Macy’s (NYSE:M) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Macy’s (NYSE:M) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Several other research analysts also recently weighed in on M. Argus upgraded shares of Macy’s to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley reduced their target price on Macy’s from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 price target on shares of Macy’s in a research note on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.86.

Macy’s Price Performance

Shares of NYSE M opened at $16.24 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48. The firm has a fifty day moving average of $15.53 and a 200 day moving average of $16.73. The firm has a market cap of $4.50 billion, a PE ratio of 25.38 and a beta of 2.11. Macy’s has a one year low of $14.06 and a one year high of $22.10.

Macy’s Announces Dividend

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 given 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 4.28%. Macy’s’s dividend payout ratio (DPR) is presently 107.81%.

Hedge Funds Weigh In On Macy’s

A number of institutional investors have recently added to or reduced their stakes in M. Quest Partners LLC purchased a new stake in Macy’s in the 3rd quarter valued at $35,000. Venturi Wealth Management LLC boosted its position in shares of Macy’s by 282.7% during 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 last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Macy’s in the third quarter valued at about $39,000. Abich Financial Wealth Management LLC acquired a new stake in Macy’s during the second quarter worth about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Macy’s during the second quarter worth about $62,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

About Macy’s

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.