Macy’s (NYSE:M) Stock Price Down 3.6% – Should You Sell?

Shares of Macy’s, Inc. (NYSE:M) traded down 3.6% on Monday . The stock traded as low as $15.70 and last traded at $15.72. 1,220,254 shares changed hands during trading, a decline of 80% from the average session volume of 6,253,090 shares. The stock had previously closed at $16.30.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 price target on shares of Macy’s in a report on Tuesday. Morgan Stanley decreased their target price on shares of 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. Argus upgraded Macy’s to a “hold” rating in a research note on Thursday, October 10th. Finally, StockNews.com began coverage on Macy’s in a research report on Sunday, November 10th. They set a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.86.

Macy’s Price Performance

The business has a 50 day moving average price of $15.47 and a 200-day moving average price of $16.79. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 24.83 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Friday, December 13th. Macy’s’s payout ratio is 107.81%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in shares of Macy’s by 7.7% in the second quarter. CWM LLC now owns 8,398 shares of the company’s stock valued at $161,000 after buying an additional 598 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Macy’s by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 44,321 shares of the company’s stock valued at $851,000 after purchasing an additional 761 shares during the last quarter. Wedmont Private Capital increased its holdings in Macy’s by 6.1% during the 2nd quarter. Wedmont Private Capital now owns 14,403 shares of the company’s stock worth $275,000 after purchasing an additional 833 shares in the last quarter. Cumberland Advisors Inc. raised its stake in shares of Macy’s by 0.9% in the second quarter. Cumberland Advisors Inc. now owns 117,510 shares of the company’s stock worth $2,256,000 after purchasing an additional 1,000 shares during the last quarter. Finally, United Services Automobile Association lifted its holdings in shares of Macy’s by 4.8% in the second quarter. United Services Automobile Association now owns 22,038 shares of the company’s stock valued at $423,000 after purchasing an additional 1,012 shares in the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

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.