Macy’s (NYSE:M) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Macy’s (NYSE:M) in a research note issued to investors on Sunday morning. The brokerage issued a hold rating on the stock.

Other research analysts have also recently issued reports about the company. Evercore ISI reduced their target price on Macy’s from $22.00 to $17.00 and set an in-line rating for the company in a research report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their target price on shares of Macy’s from $25.00 to $27.00 and gave the company an overweight rating in a research report on Wednesday, May 22nd. Telsey Advisory Group reissued a market perform rating and issued a $21.00 target price on shares of Macy’s in a research note on Tuesday, May 21st. Finally, TD Cowen raised their price target on shares of Macy’s from $20.00 to $21.00 and gave the stock a hold rating in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $18.10.

Macy’s Price Performance

NYSE M opened at $16.49 on Friday. Macy’s has a 1 year low of $10.54 and a 1 year high of $22.10. The company has a fifty day simple moving average of $18.63 and a 200 day simple moving average of $19.04. The company has a current ratio of 1.38, a quick ratio of 0.35 and a debt-to-equity ratio of 0.72. The company has a market cap of $4.56 billion, a P/E ratio of 549.67 and a beta of 2.18.

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

Macy’s Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Friday, June 14th. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Insider Activity at Macy’s

In other news, CEO Antony Spring sold 18,981 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the transaction, the chief executive officer now owns 267,265 shares of the company’s stock, valued at approximately $5,067,344.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Danielle L. Kirgan sold 24,147 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the transaction, the executive vice president now owns 348,000 shares in the company, valued at $6,598,080. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Antony Spring sold 18,981 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $359,879.76. Following the completion of the sale, the chief executive officer now owns 267,265 shares in the company, valued at $5,067,344.40. The disclosure for this sale can be found here. Insiders have sold 43,464 shares of company stock worth $824,081 over the last ninety days. Company insiders own 2.77% of the company’s stock.

Institutional Investors Weigh In On Macy’s

A number of hedge funds have recently modified their holdings of M. Glassman Wealth Services boosted its stake in Macy’s by 154.5% in the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after purchasing an additional 743 shares during the period. Lindbrook Capital LLC boosted its position in shares of Macy’s by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after buying an additional 944 shares during the period. Riverview Trust Co bought a new position in shares of Macy’s during the first quarter worth about $27,000. Fidelis Capital Partners LLC acquired a new stake in Macy’s in the 1st quarter valued at approximately $42,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Macy’s in the 1st quarter valued at approximately $50,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

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.