UBS Group initiated coverage on shares of Macy’s (NYSE:M) in a research report report published on Thursday, www.benzinga.com reports. The brokerage issued a neutral rating and a $39.00 price target on the stock.
M has been the subject of a number of other reports. Jefferies Financial Group reaffirmed a hold rating on shares of Macy’s in a research report on Tuesday, February 27th. Guggenheim reaffirmed a buy rating and issued a $36.00 price objective on shares of Macy’s in a research report on Wednesday, May 16th. Zacks Investment Research downgraded shares of Macy’s from a buy rating to a hold rating in a research report on Tuesday, May 8th. ValuEngine raised shares of Macy’s from a hold rating to a buy rating in a research report on Thursday, March 1st. Finally, Susquehanna Bancshares raised shares of Macy’s from a neutral rating to a buy rating and upped their price objective for the stock from $25.00 to $43.00 in a research report on Tuesday, May 22nd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Macy’s has an average rating of Hold and an average target price of $30.96.
Shares of NYSE:M traded down $0.28 during midday trading on Thursday, hitting $39.04. 103,425 shares of the company’s stock were exchanged, compared to its average volume of 9,241,226. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.52 and a quick ratio of 0.48. The company has a market cap of $12.14 billion, a PE ratio of 10.36, a PEG ratio of 1.24 and a beta of 0.74. Macy’s has a 12 month low of $17.41 and a 12 month high of $41.33.
Macy’s (NYSE:M) last posted its earnings results on Wednesday, May 16th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.36 by $0.12. The company had revenue of $5.54 billion during the quarter, compared to the consensus estimate of $5.39 billion. Macy’s had a net margin of 6.45% and a return on equity of 24.56%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. equities research analysts expect that Macy’s will post 3.77 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be paid a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Thursday, June 14th. Macy’s’s payout ratio is 40.05%.
In related news, Chairman Jeffrey Gennette bought 10,000 shares of the company’s stock in a transaction on Thursday, April 12th. The shares were purchased at an average cost of $29.10 per share, for a total transaction of $291,000.00. Following the completion of the purchase, the chairman now directly owns 89,303 shares in the company, valued at $2,598,717.30. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.36% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd lifted its stake in shares of Macy’s by 78.4% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 4,067 shares of the company’s stock valued at $120,000 after buying an additional 1,787 shares in the last quarter. ING Groep NV lifted its stake in Macy’s by 20.6% in the 1st quarter. ING Groep NV now owns 12,742 shares of the company’s stock worth $379,000 after purchasing an additional 2,180 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Macy’s by 3.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 62,904 shares of the company’s stock worth $1,870,000 after purchasing an additional 2,244 shares in the last quarter. Advisory Services Network LLC lifted its stake in Macy’s by 18.1% in the 4th quarter. Advisory Services Network LLC now owns 14,696 shares of the company’s stock worth $370,000 after purchasing an additional 2,253 shares in the last quarter. Finally, Doyle Wealth Management lifted its stake in Macy’s by 8.9% in the 1st quarter. Doyle Wealth Management now owns 27,770 shares of the company’s stock worth $826,000 after purchasing an additional 2,265 shares in the last quarter. Institutional investors own 88.42% of the company’s stock.
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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