Goldman Sachs Group started coverage on shares of Macy’s (NYSE:M) in a research report sent to investors on Monday, MarketBeat Ratings reports. The firm issued a sell rating and a $33.00 price objective on the stock.
Other equities research analysts also recently issued reports about the stock. Susquehanna Bancshares upgraded shares of Macy’s from a neutral rating to a buy rating and raised their target price for the company from $25.00 to $43.00 in a research note on Tuesday, May 22nd. Guggenheim restated a buy rating and set a $36.00 price objective on shares of Macy’s in a research report on Wednesday, May 16th. Evercore ISI raised their price objective on shares of Macy’s from $17.41 to $36.00 and gave the stock a buy rating in a research report on Monday, June 4th. Zacks Investment Research upgraded shares of Macy’s from a hold rating to a buy rating and set a $41.00 price objective for the company in a research report on Wednesday, July 18th. Finally, Cowen restated a hold rating on shares of Macy’s in a research report on Thursday, June 7th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $33.57.
Shares of NYSE:M opened at $35.80 on Monday. Macy’s has a 52-week low of $17.41 and a 52-week high of $41.99. The stock has a market capitalization of $11.20 billion, a P/E ratio of 9.52, a PEG ratio of 1.09 and a beta of 0.70. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 0.43.
Macy’s (NYSE:M) last issued its earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.20. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same period last year, the business posted $0.48 EPS. Macy’s’s revenue was down 1.1% on a year-over-year basis. sell-side analysts expect that Macy’s will post 3.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be issued a dividend of $0.3775 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.22%. Macy’s’s dividend payout ratio is presently 40.05%.
In other Macy’s news, Director William H. Lenehan bought 2,092 shares of the stock in a transaction dated Friday, August 17th. The shares were bought at an average cost of $35.78 per share, with a total value of $74,851.76. Following the completion of the acquisition, the director now owns 8,060 shares of the company’s stock, valued at $288,386.80. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.36% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Macy’s by 4.9% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 28,887 shares of the company’s stock worth $1,081,000 after purchasing an additional 1,337 shares during the period. Whittier Trust Co. increased its stake in Macy’s by 21.1% in the second quarter. Whittier Trust Co. now owns 7,966 shares of the company’s stock valued at $462,000 after acquiring an additional 1,390 shares during the last quarter. Amalgamated Bank increased its stake in Macy’s by 3.7% in the second quarter. Amalgamated Bank now owns 39,333 shares of the company’s stock valued at $1,472,000 after acquiring an additional 1,402 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in Macy’s by 2.3% in the second quarter. Crossmark Global Holdings Inc. now owns 72,053 shares of the company’s stock valued at $2,697,000 after acquiring an additional 1,609 shares during the last quarter. Finally, Charter Trust Co. increased its stake in Macy’s by 12.1% in the second quarter. Charter Trust Co. now owns 15,106 shares of the company’s stock valued at $565,000 after acquiring an additional 1,630 shares during the last quarter. 90.50% of the stock is currently owned by institutional investors.
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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