Brokerages Set Macy’s, Inc. (NYSE:M) Price Target at $19.50

Macy’s, Inc. (NYSE:M) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $20.43.

Several brokerages have weighed in on M. Telsey Advisory Group restated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. Morgan Stanley dropped their target price on 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. Evercore ISI decreased their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a research note on Tuesday, July 16th. Finally, StockNews.com started coverage on Macy’s in a research note on Tuesday. They set a “hold” rating on the stock.

Insider Buying and Selling

In other news, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the sale, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Antony Spring sold 18,981 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the sale, the executive vice president now directly owns 348,000 shares of the company’s stock, valued at $6,598,080. The disclosure for this sale can be found here. Insiders sold 44,665 shares of company stock valued at $842,372 in the last three months. 2.77% of the stock is owned by corporate insiders.

Institutional Trading of Macy’s

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new position in Macy’s during the 1st quarter worth $27,000. Fidelis Capital Partners LLC acquired a new stake in Macy’s in the first quarter valued at about $42,000. Future Financial Wealth Managment LLC acquired a new stake in Macy’s in the first quarter valued at about $50,000. EntryPoint Capital LLC purchased a new stake in Macy’s in the 1st quarter valued at approximately $51,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Macy’s during the 2nd quarter worth approximately $57,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy’s Stock Performance

Macy’s stock opened at $15.43 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. The firm has a market capitalization of $4.27 billion, a P/E ratio of 514.33 and a beta of 2.11. Macy’s has a 1-year low of $10.54 and a 1-year high of $22.10. The company’s 50-day moving average is $15.70 and its 200 day moving average is $17.84.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.23. The company had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. Research analysts forecast that Macy’s will post 2.72 EPS for the current year.

Macy’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.1737 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.69 annualized dividend and a dividend yield of 4.50%. Macy’s’s dividend payout ratio (DPR) is 2,300.00%.

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.