Shares of Macy’s Inc (NYSE:M) have been given a consensus recommendation of “Hold” by the twenty-four ratings firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $32.52.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Macy’s from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. ValuEngine cut shares of Macy’s from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Standpoint Research cut shares of Macy’s from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Goldman Sachs Group assumed coverage on shares of Macy’s in a report on Monday, September 3rd. They issued a “sell” rating and a $33.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of Macy’s from $25.00 to $27.00 and gave the stock an “underweight” rating in a report on Thursday, August 16th.
M traded down $0.07 during trading on Friday, hitting $32.34. The company had a trading volume of 7,430,600 shares, compared to its average volume of 9,251,226. The stock has a market capitalization of $9.77 billion, a PE ratio of 8.47, a P/E/G ratio of 0.95 and a beta of 0.71. 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 has a 1-year low of $17.41 and a 1-year high of $41.99.
Macy’s (NYSE:M) last issued its earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.20. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.55 billion. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 earnings per share. On average, equities research analysts forecast that Macy’s will post 3.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were given a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $1.51 annualized dividend and a dividend yield of 4.67%. Macy’s’s dividend payout ratio (DPR) is 40.05%.
In other news, Director William H. Lenehan bought 2,092 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was bought at an average cost of $35.78 per share, for a total transaction of $74,851.76. Following the completion of the acquisition, the director now directly owns 8,060 shares in the company, valued at approximately $288,386.80. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, President Harry A. Lawton III sold 28,684 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $36.05, for a total transaction of $1,034,058.20. Following the completion of the transaction, the president now owns 54,722 shares of the company’s stock, valued at $1,972,728.10. The disclosure for this sale can be found here. Company insiders own 2.36% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC lifted its position in shares of Macy’s by 8,081.8% in the second quarter. CIBC Private Wealth Group LLC now owns 99,981 shares of the company’s stock worth $3,742,000 after purchasing an additional 98,759 shares in the last quarter. Van ECK Associates Corp raised its position in Macy’s by 11.4% during the second quarter. Van ECK Associates Corp now owns 26,239 shares of the company’s stock valued at $982,000 after acquiring an additional 2,694 shares in the last quarter. Beese Fulmer Investment Management Inc. bought a new position in Macy’s during the second quarter valued at approximately $212,000. Zacks Investment Management raised its position in Macy’s by 2.1% during the second quarter. Zacks Investment Management now owns 763,155 shares of the company’s stock valued at $28,565,000 after acquiring an additional 15,815 shares in the last quarter. Finally, Tradition Capital Management LLC bought a new position in Macy’s during the second quarter valued at approximately $225,000. 90.39% of the stock is owned by institutional investors and hedge funds.
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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