Macy’s (NYSE:M) Hits New 1-Year Low – Here’s What Happened

Macy’s, Inc. (NYSE:M)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $14.05 and last traded at $14.06, with a volume of 8064926 shares trading hands. The stock had previously closed at $14.56.

Analysts Set New Price Targets

M has been the subject of a number of recent research reports. Argus raised Macy’s to a “hold” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on Macy’s from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley lowered their price target on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Finally, Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Macy’s has an average rating of “Hold” and an average target price of $17.78.

Macy’s Stock Up 0.8 %

The firm has a market capitalization of $3.86 billion, a PE ratio of 23.55 and a beta of 2.07. The company’s fifty day simple moving average is $16.11 and its 200 day simple moving average is $16.08. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

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). Macy’s had a return on equity of 21.99% and a net margin of 0.73%. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the company posted $0.21 EPS. Macy’s’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts anticipate that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend was Friday, December 13th. Macy’s’s dividend payout ratio (DPR) is presently 116.95%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in M. Quest Partners LLC purchased a new stake in shares of Macy’s in the third quarter worth $35,000. Venturi Wealth Management LLC boosted its stake in Macy’s by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock worth $36,000 after purchasing an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Macy’s during the 3rd quarter valued at about $39,000. Abich Financial Wealth Management LLC bought a new stake in Macy’s during the 2nd quarter valued at about $57,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Macy’s during the 2nd quarter valued at about $62,000. 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.