Macy’s, Inc. (NYSE:M) Given Average Recommendation of “Hold” by Brokerages

Macy’s, Inc. (NYSE:M) has been given an average rating of “Hold” by the nine analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $17.70.

M has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. JPMorgan Chase & Co. raised their price objective on shares of Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. The Goldman Sachs Group raised their price objective on shares of Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. StockNews.com initiated coverage on shares of Macy’s in a research note on Wednesday. They issued a “hold” rating on the stock. Finally, TD Cowen raised their price objective on shares of Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd.

Macy’s Trading Down 0.2 %

M opened at $18.29 on Monday. Macy’s has a twelve month low of $10.54 and a twelve month high of $22.10. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average of $19.06 and a 200-day moving average of $19.24. The stock has a market cap of $5.06 billion, a PE ratio of 609.67 and a beta of 2.16.

Macy’s (NYSE:M) last posted its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. Macy’s’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 earnings per share. On average, sell-side analysts predict that Macy’s will post 2.79 EPS for the current year.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Friday, June 14th. Macy’s’s dividend payout ratio is 2,300.00%.

Insiders Place Their Bets

In other Macy’s news, CEO Antony Spring sold 3,075 shares of Macy’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $20.28, for a total value of $62,361.00. Following the sale, the chief executive officer now owns 228,750 shares of the company’s stock, valued at $4,639,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Antony Spring sold 3,075 shares of Macy’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $20.28, for a total value of $62,361.00. Following the completion of the transaction, the chief executive officer now owns 228,750 shares in the company, valued at $4,639,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adrian V. Mitchell sold 13,279 shares of Macy’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $19.63, for a total transaction of $260,666.77. Following the completion of the transaction, the chief financial officer now owns 120,457 shares of the company’s stock, valued at approximately $2,364,570.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,165 shares of company stock valued at $1,888,528. Company insiders own 2.77% of the company’s stock.

Hedge Funds Weigh In On Macy’s

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Macy’s by 7.8% during the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock valued at $422,390,000 after purchasing an additional 2,645,577 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Macy’s by 260.8% in the 3rd quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock worth $29,577,000 after acquiring an additional 1,841,432 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Macy’s by 20.8% in the 3rd quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock worth $38,173,000 after acquiring an additional 565,269 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Macy’s in the 4th quarter worth approximately $6,021,000. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Macy’s by 7.6% in the 3rd quarter. Rafferty Asset Management LLC now owns 38,304 shares of the company’s stock worth $445,000 after acquiring an additional 2,698 shares during the last quarter. Hedge funds and other 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.