Macy's (M) Downgraded by Vetr to Buy

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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About Macy's

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.

Analyst Recommendations for Macy's (NYSE:M)

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