Guggenheim started coverage on shares of Macy’s Inc. (NYSE:M) in a report issued on Friday. The firm set a “buy” rating on the stock.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Tuesday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $35.00 price target (down previously from $37.00) on shares of Macy’s in a report on Saturday, August 13th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $40.00 price target (up previously from $35.00) on shares of Macy’s in a report on Saturday, August 13th. Vetr downgraded shares of Macy’s from a “hold” rating to a “strong sell” rating and set a $35.17 price objective on the stock. in a report on Monday, August 15th. Finally, Citigroup Inc. raised their price objective on shares of Macy’s from $30.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have given a buy rating to the company’s stock. Macy’s currently has an average rating of “Hold” and an average price target of $43.78.
Shares of Macy’s (NYSE:M) opened at 36.05 on Friday. The company has a market cap of $11.12 billion, a price-to-earnings ratio of 14.45 and a beta of 0.80. The company’s 50-day moving average is $37.43 and its 200-day moving average is $36.75. Macy’s has a 12-month low of $29.94 and a 12-month high of $52.48.
Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.09. Macy’s had a net margin of 2.99% and a return on equity of 27.68%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the prior year, the firm posted $0.64 EPS. Macy’s’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts predict that Macy’s will post $3.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Tuesday, September 13th. Macy’s’s dividend payout ratio is currently 60.64%.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Macy’s by 25.1% in the second quarter. Vanguard Group Inc. now owns 23,202,656 shares of the company’s stock worth $779,840,000 after buying an additional 4,647,970 shares in the last quarter. State Street Corp raised its stake in shares of Macy’s by 0.3% in the second quarter. State Street Corp now owns 13,812,762 shares of the company’s stock worth $464,242,000 after buying an additional 46,264 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Macy’s by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 13,078,674 shares of the company’s stock worth $439,572,000 after buying an additional 232,280 shares in the last quarter. FMR LLC raised its stake in shares of Macy’s by 11.3% in the second quarter. FMR LLC now owns 5,960,934 shares of the company’s stock worth $200,347,000 after buying an additional 603,525 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Macy’s by 1.8% in the second quarter. BlackRock Fund Advisors now owns 4,858,055 shares of the company’s stock worth $163,279,000 after buying an additional 86,167 shares in the last quarter. 83.27% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Macy's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's Inc. and related companies with MarketBeat.com's FREE daily email newsletter.