Macy’s (NYSE:M) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Macy’s (NYSE:M) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday morning.

A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group started coverage on Macy’s in a research report on Wednesday, January 14th. They set a “buy” rating and a $27.00 target price on the stock. Guggenheim began coverage on Macy’s in a report on Tuesday, December 9th. They issued a “neutral” rating for the company. TD Cowen reiterated a “hold” rating on shares of Macy’s in a research report on Thursday, December 4th. The Goldman Sachs Group raised their price objective on Macy’s from $16.50 to $22.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Finally, Telsey Advisory Group boosted their price objective on Macy’s from $22.00 to $25.00 and gave the company a “market perform” rating in a research report on Thursday, December 4th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $20.00.

Macy’s Stock Down 0.9%

M stock opened at $16.93 on Friday. Macy’s has a one year low of $9.76 and a one year high of $24.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.18 and a current ratio of 1.25. The firm’s fifty day moving average is $20.56 and its 200 day moving average is $20.05. The firm has a market cap of $4.50 billion, a PE ratio of 10.02 and a beta of 1.51.

Macy’s Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.1915 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.18. This represents a $0.77 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, March 13th. Macy’s’s payout ratio is presently 45.56%.

Hedge Funds Weigh In On Macy’s

Several hedge funds and other institutional investors have recently made changes to their positions in M. Dimensional Fund Advisors LP increased its holdings in Macy’s by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,145,972 shares of the company’s stock valued at $356,020,000 after purchasing an additional 494,280 shares in the last quarter. RWC Asset Management LLP lifted its stake in shares of Macy’s by 0.6% during the fourth quarter. RWC Asset Management LLP now owns 10,965,149 shares of the company’s stock worth $241,782,000 after purchasing an additional 62,839 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Macy’s by 6.6% in the third quarter. American Century Companies Inc. now owns 10,764,293 shares of the company’s stock worth $193,004,000 after buying an additional 669,729 shares during the period. Schroder Investment Management Group boosted its position in shares of Macy’s by 1.1% in the third quarter. Schroder Investment Management Group now owns 9,738,338 shares of the company’s stock worth $174,608,000 after buying an additional 110,548 shares during the period. Finally, State Street Corp grew its stake in shares of Macy’s by 0.5% in the second quarter. State Street Corp now owns 9,420,372 shares of the company’s stock valued at $111,547,000 after buying an additional 45,997 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.