Macy’s (NYSE:M) Upgraded to Strong-Buy 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 report issued on Sunday morning.

Several other equities research analysts also recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Macy’s in a research report on Monday, December 29th. Zacks Research downgraded Macy’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. TD Cowen reissued a “hold” rating on shares of Macy’s in a report on Thursday, December 4th. Morgan Stanley upped their price objective on Macy’s from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, December 5th. Finally, Evercore increased their target price on Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a report on Friday, December 5th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $20.00.

Macy’s Trading Down 0.8%

M opened at $17.04 on Friday. Macy’s has a 12-month low of $9.76 and a 12-month high of $24.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. The stock has a market capitalization of $4.53 billion, a PE ratio of 10.08 and a beta of 1.51. The firm’s fifty day moving average price is $20.80 and its 200 day moving average price is $20.00.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a $0.1915 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.77 annualized dividend and a dividend yield of 4.5%. Macy’s’s dividend payout ratio (DPR) is presently 45.56%.

Institutional Investors Weigh In On Macy’s

Several institutional investors and hedge funds have recently bought and sold shares of the business. Corient Private Wealth LLC boosted its stake in Macy’s by 51.9% in the fourth quarter. Corient Private Wealth LLC now owns 292,216 shares of the company’s stock valued at $6,444,000 after acquiring an additional 99,832 shares during the period. Hsbc Holdings PLC raised its position in shares of Macy’s by 112.1% during the 4th quarter. Hsbc Holdings PLC now owns 383,947 shares of the company’s stock worth $8,442,000 after purchasing an additional 202,906 shares during the period. Pacer Advisors Inc. raised its position in shares of Macy’s by 1,859.1% during the 4th quarter. Pacer Advisors Inc. now owns 1,337,481 shares of the company’s stock worth $29,491,000 after purchasing an additional 1,269,211 shares during the period. Kera Capital Partners Inc. bought a new stake in shares of Macy’s in the 4th quarter worth approximately $271,000. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of Macy’s by 420.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 66,243 shares of the company’s stock worth $1,461,000 after purchasing an additional 53,512 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Company Profile

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.