Macy's (NYSE:M) Lifted to Strong-Buy at Vetr

Vetr upgraded shares of Macy's (NYSE:M) from a buy rating to a strong-buy rating in a report issued on Monday, December 18th. Vetr currently has $27.57 target price on the stock.

M has been the topic of a number of other research reports. BMO Capital Markets reaffirmed a buy rating and issued a $36.00 target price on shares of Macy's in a research report on Thursday, November 2nd. Zacks Investment Research downgraded Macy's from a hold rating to a sell rating in a research report on Wednesday, October 11th. Citigroup downgraded Macy's from a neutral rating to a sell rating and lowered their target price for the company from $21.00 to $16.00 in a research report on Monday, October 30th. ValuEngine downgraded Macy's from a buy rating to a hold rating in a research report on Friday, September 1st. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $23.00 target price on shares of Macy's in a research report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and an average target price of $26.02.

Macy's (NYSE M) traded up $0.70 on Monday, hitting $26.30. The company’s stock had a trading volume of 8,820,000 shares, compared to its average volume of 14,720,000. Macy's has a 1 year low of $17.41 and a 1 year high of $34.37. The firm has a market cap 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. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.29 and a quick ratio of 0.19.

Macy's (NYSE:M) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. Macy's had a return on equity of 21.20% and a net margin of 2.83%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter last year, the business posted $0.17 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. research analysts expect that Macy's will post 3.63 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date was Thursday, December 14th. Macy's’s dividend payout ratio (DPR) is presently 66.52%.

Large investors have recently modified their holdings of the company. Ffcm LLC boosted its holdings in shares of Macy's by 251.6% during the second quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after acquiring an additional 3,615 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Macy's by 51.1% during the second quarter. Penserra Capital Management LLC now owns 5,560 shares of the company’s stock worth $129,000 after acquiring an additional 1,880 shares during the period. Kistler Tiffany Companies LLC bought a new stake in shares of Macy's in the third quarter valued at approximately $148,000. IFP Advisors Inc boosted its stake in shares of Macy's by 62.9% in the third quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock valued at $174,000 after buying an additional 3,083 shares during the period. Finally, IFM Investors Pty Ltd bought a new stake in shares of Macy's in the third quarter valued at approximately $200,000. 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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