Macy’s Inc (NYSE:M) has received an average recommendation of “Hold” from the twenty-five ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seventeen have issued a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $30.98.
Several research firms have commented on M. Royal Bank Of Canada set a $28.00 target price on shares of Macy’s and gave the stock a “hold” rating in a research report on Saturday, May 13th. Cowen and Company set a $29.00 target price on shares of Macy’s and gave the stock a “hold” rating in a research report on Saturday, May 13th. Jefferies Group LLC dropped their target price on shares of Macy’s from $27.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, June 9th. Goldman Sachs Group, Inc. (The) dropped their target price on shares of Macy’s from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 7th. Finally, Northcoast Research reissued a “neutral” rating on shares of Macy’s in a research report on Thursday, May 11th.
Macy’s (NYSE:M) traded up 0.804% during mid-day trading on Friday, hitting $22.449. The company had a trading volume of 2,423,484 shares. The company’s 50 day moving average price is $24.24 and its 200-day moving average price is $30.08. The firm has a market capitalization of $6.84 billion, a PE ratio of 12.108 and a beta of 0.77. Macy’s has a 12-month low of $21.51 and a 12-month high of $45.41.
Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, May 11th. The company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.12. Macy’s had a net margin of 2.26% and a return on equity of 22.37%. The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the business posted $0.40 EPS. Macy’s’s revenue was down 7.5% compared to the same quarter last year. On average, analysts forecast that Macy’s will post $3.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.3775 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.51 annualized dividend and a dividend yield of 6.78%. Macy’s’s payout ratio is currently 81.62%.
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In other news, EVP Felicia Williams sold 1,697 shares of the firm’s stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $28.55, for a total transaction of $48,449.35. Following the completion of the sale, the executive vice president now owns 1,697 shares in the company, valued at approximately $48,449.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey Gennette purchased 13,085 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were bought at an average price of $22.95 per share, with a total value of $300,300.75. Following the purchase, the insider now owns 89,053 shares in the company, valued at $2,043,766.35. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its position in Macy’s by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares in the last quarter. Ropes Wealth Advisors LLC raised its position in Macy’s by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock worth $142,000 after buying an additional 1,866 shares in the last quarter. WFG Advisors LP raised its position in Macy’s by 9,613.2% in the fourth quarter. WFG Advisors LP now owns 3,691 shares of the company’s stock worth $144,000 after buying an additional 3,653 shares in the last quarter. Winslow Evans & Crocker Inc. raised its position in Macy’s by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock worth $164,000 after buying an additional 3,910 shares in the last quarter. Finally, First Manhattan Co. raised its position in Macy’s by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock worth $188,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 84.94% of the company’s stock.
Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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