BMO Capital Markets Reiterates $38.00 Price Target for Macy's (M)

BMO Capital Markets set a $38.00 price objective on Macy's (NYSE:M) in a research note published on Friday, January 5th. The firm currently has a buy rating on the stock.

Several other research analysts also recently commented on the company. Susquehanna Bancshares set a $38.00 price objective on Macy's and gave the stock a buy rating in a report on Friday, October 20th. Citigroup cut Macy's from a neutral rating to a sell rating and dropped their target price for the company from $21.00 to $16.00 in a research report on Monday, October 30th. Royal Bank of Canada set a $21.00 target price on Macy's and gave the company a sector perform rating in a research report on Friday, October 20th. Zacks Investment Research cut Macy's from a hold rating to a sell rating in a research report on Wednesday, October 11th. Finally, OTR Global raised Macy's to a sell rating in a research report on Monday, December 18th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $26.02.

Shares of Macy's (NYSE:M) traded up $0.59 during midday trading on Friday, hitting $26.89. The stock had a trading volume of 13,569,121 shares, compared to its average volume of 14,480,000. 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 12-month low of $17.41 and a 12-month high of $34.37. The stock has a market capitalization of $8,190.00, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97.

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

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were paid a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 5.62%. Macy's’s payout ratio is currently 66.52%.

Institutional investors have recently made changes to their positions in the stock. Ffcm LLC boosted its holdings in Macy's by 251.6% in the 2nd quarter. Ffcm LLC now owns 5,052 shares of the company’s stock worth $120,000 after buying an additional 3,615 shares during the last quarter. Kistler Tiffany Companies LLC acquired a new stake in Macy's in the 3rd quarter worth about $148,000. IFP Advisors Inc boosted its holdings in Macy's by 62.9% in the 3rd quarter. IFP Advisors Inc now owns 7,981 shares of the company’s stock worth $174,000 after buying an additional 3,083 shares during the last quarter. IFM Investors Pty Ltd acquired a new stake in Macy's in the 3rd quarter worth about $200,000. Finally, Westside Investment Management Inc. boosted its holdings in Macy's by 3,191.7% in the 2nd quarter. Westside Investment Management Inc. now owns 9,875 shares of the company’s stock worth $208,000 after buying an additional 9,575 shares during 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.

Analyst Recommendations for Macy's (NYSE:M)

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