Vetr cut shares of Macy's (NYSE:M) from a strong-buy rating to a buy rating in a research note published on Tuesday, December 19th. The brokerage currently has $28.05 price target on the stock.
A number of other research firms have also commented on M. OTR Global upgraded shares of Macy's to a sell rating in a research report on Monday, December 18th. Canaccord Genuity restated a buy rating and issued a $9.50 price objective on shares of Macy's in a research report on Thursday, November 16th. BMO Capital Markets restated a buy rating and issued a $36.00 price objective on shares of Macy's in a research report on Thursday, November 2nd. ValuEngine lowered shares of Macy's from a buy rating to a hold rating in a research report on Friday, September 1st. Finally, Royal Bank of Canada reiterated a hold rating and set a $23.00 target price on shares of Macy's in a research report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $26.02.
Macy's (M) traded up $0.70 on Tuesday, reaching $26.30. 8,820,000 shares of the company’s stock traded hands, compared to its average volume of 14,720,000. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. Macy's has a 1 year low of $17.41 and a 1 year high of $34.37. The firm has a market capitalization of $8,010.00, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 0.79 and a beta of 0.97.
Macy's (NYSE:M) last announced its earnings results on Thursday, November 9th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.31 billion. Macy's had a net margin of 2.83% and a return on equity of 21.20%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 earnings per share. analysts forecast that Macy's will post 3.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend was Thursday, December 14th. Macy's’s dividend payout ratio (DPR) is presently 66.52%.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Macy's by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 30,612,902 shares of the company’s stock worth $711,444,000 after purchasing an additional 618,535 shares in the last quarter. BlackRock Inc. boosted its stake in Macy's by 3.9% in the 2nd quarter. BlackRock Inc. now owns 25,380,303 shares of the company’s stock worth $589,839,000 after purchasing an additional 963,487 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Macy's by 14.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,325,701 shares of the company’s stock worth $181,666,000 after purchasing an additional 1,076,502 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Macy's by 30.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,969,989 shares of the company’s stock worth $152,091,000 after purchasing an additional 1,646,858 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in Macy's by 75.3% in the 3rd quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock worth $109,392,000 after purchasing an additional 2,153,110 shares in the last quarter. Hedge funds and other institutional investors own 82.04% of the company’s stock.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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