Shares of Macy’s Inc. (NYSE:M) have been assigned an average rating of “Hold” from the twenty-five ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $26.91.
Several equities research analysts have recently weighed in on the stock. TheStreet raised shares of Macy’s from a “c+” rating to a “b-” rating in a research report on Wednesday, March 28th. Gordon Haskett raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Thursday, March 1st. Morgan Stanley boosted their target price on shares of Macy’s from $23.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. BMO Capital Markets boosted their target price on shares of Macy’s from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, March 1st. Finally, ValuEngine raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Thursday, March 1st.
In other news, Chairman Jeffrey Gennette bought 10,000 shares of Macy’s stock in a transaction on Thursday, April 12th. The stock was purchased at an average cost of $29.10 per share, with a total value of $291,000.00. Following the purchase, the chairman now directly owns 89,303 shares of the company’s stock, valued at approximately $2,598,717.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marna C. Whittington sold 20,000 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $30.30, for a total transaction of $606,000.00. Following the transaction, the director now directly owns 54,834 shares of the company’s stock, valued at $1,661,470.20. The disclosure for this sale can be found here. Insiders have sold a total of 107,392 shares of company stock valued at $3,173,164 over the last three months. 2.36% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Kistler Tiffany Companies LLC boosted its stake in Macy’s by 31.3% during the 4th quarter. Kistler Tiffany Companies LLC now owns 8,900 shares of the company’s stock valued at $224,000 after purchasing an additional 2,120 shares during the period. Advisory Services Network LLC raised its position in shares of Macy’s by 18.1% during the 4th quarter. Advisory Services Network LLC now owns 14,696 shares of the company’s stock worth $370,000 after buying an additional 2,253 shares in the last quarter. CapWealth Advisors LLC raised its position in shares of Macy’s by 1.0% during the 4th quarter. CapWealth Advisors LLC now owns 256,310 shares of the company’s stock worth $6,456,000 after buying an additional 2,500 shares in the last quarter. Enterprise Financial Services Corp raised its position in shares of Macy’s by 102.4% during the 4th quarter. Enterprise Financial Services Corp now owns 5,348 shares of the company’s stock worth $135,000 after buying an additional 2,706 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Macy’s by 60.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,046 shares of the company’s stock worth $203,000 after buying an additional 3,045 shares in the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.
M opened at $29.41 on Friday. The stock has a market capitalization of $8,820.91, a PE ratio of 7.80, a P/E/G ratio of 0.94 and a beta of 0.75. Macy’s has a 1-year low of $17.41 and a 1-year high of $31.04. The company has a quick ratio of 0.45, a current ratio of 1.47 and a debt-to-equity ratio of 1.04.
Macy’s (NYSE:M) last released its earnings results on Tuesday, February 27th. The company reported $2.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.71 by $0.11. The company had revenue of $8.67 billion during the quarter, compared to the consensus estimate of $8.70 billion. Macy’s had a net margin of 6.23% and a return on equity of 24.93%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.02 EPS. equities analysts expect that Macy’s will post 3.63 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th were paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend was Wednesday, March 14th. Macy’s’s payout ratio is 40.05%.
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Macy’s Company Profile
Macy's, Inc, together with its subsidiaries, operates stores, Websites, and mobile applications. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates stores that offer a range of women's, men's, and children's apparel; shoes; fashion accessories; housewares; home textiles; intimate apparel; and jewelry.
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