Macy’s (NYSE:M) Stock Price Up 5.8% – Time to Buy?

Shares of Macy’s, Inc. (NYSE:M) shot up 5.8% during trading on Friday . The company traded as high as $16.00 and last traded at $15.95. 2,251,720 shares traded hands during trading, a decline of 64% from the average session volume of 6,237,186 shares. The stock had previously closed at $15.07.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. StockNews.com initiated coverage on shares of Macy’s in a report on Sunday, November 10th. They issued a “hold” rating on the stock. Argus raised Macy’s to a “hold” rating in a research note on Thursday, October 10th. Morgan Stanley decreased their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research report on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.43.

Macy’s Stock Performance

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 company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 24.92 and a beta of 2.11. The firm has a 50-day simple moving average of $15.42 and a two-hundred day simple moving average of $16.87.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the prior year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that Macy’s, Inc. will post 2.7 EPS for the current fiscal year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.1737 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a yield of 4.29%. Macy’s’s dividend payout ratio (DPR) is presently 107.81%.

Institutional Trading of Macy’s

A number of large investors have recently made changes to their positions in M. Virtu Financial LLC acquired a new position in shares of Macy’s during the 1st quarter worth about $1,043,000. WINTON GROUP Ltd increased its stake in Macy’s by 96.4% in the second quarter. WINTON GROUP Ltd now owns 106,636 shares of the company’s stock valued at $2,047,000 after purchasing an additional 52,337 shares during the last quarter. US Bancorp DE raised its holdings in Macy’s by 6.4% during the first quarter. US Bancorp DE now owns 21,669 shares of the company’s stock worth $433,000 after purchasing an additional 1,306 shares in the last quarter. Royce & Associates LP lifted its position in shares of Macy’s by 5.2% during the 3rd quarter. Royce & Associates LP now owns 1,420,000 shares of the company’s stock worth $22,280,000 after buying an additional 70,000 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Macy’s by 454.3% in the 3rd quarter. International Assets Investment Management LLC now owns 111,587 shares of the company’s stock valued at $1,751,000 after buying an additional 91,455 shares in the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

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.