Macy’s Inc. (NYSE:M) has received a consensus recommendation of “Hold” from the twenty-nine analysts that are covering the firm. 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. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $43.42.
M has been the topic of a number of research reports. Vetr upgraded Macy’s from a “hold” rating to a “buy” rating and set a $35.17 price objective on the stock in a report on Tuesday, August 2nd. Zacks Investment Research upgraded Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, August 16th. Standpoint Research initiated coverage on Macy’s in a report on Thursday, August 25th. They issued a “buy” rating and a $72.00 price objective on the stock. Citigroup Inc. upgraded Macy’s from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $35.42 to $44.00 in a report on Wednesday, September 14th. Finally, Guggenheim initiated coverage on Macy’s in a report on Friday. They issued a “buy” rating on the stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Americafirst Capital Management LLC bought a new position in shares of Macy’s during the second quarter worth about $133,000. Pacific Global Investment Management CO acquired a new position in Macy’s during the first quarter worth about $208,000. Advisory Services Network LLC boosted its position in Macy’s by 13.3% in the second quarter. Advisory Services Network LLC now owns 4,800 shares of the company’s stock worth $161,000 after buying an additional 565 shares in the last quarter. First Manhattan Co. boosted its position in Macy’s by 56.7% in the second quarter. First Manhattan Co. now owns 4,966 shares of the company’s stock worth $166,000 after buying an additional 1,796 shares in the last quarter. Finally, Benchmark Capital Advisors acquired a new position in Macy’s during the first quarter worth about $220,000. 83.27% of the stock is owned by institutional investors.
Macy’s (NYSE:M) opened at 37.05 on Wednesday. The stock has a market capitalization of $11.43 billion, a P/E ratio of 14.86 and a beta of 0.80. Macy’s has a 12 month low of $29.94 and a 12 month high of $52.48. The firm’s 50-day moving average is $37.36 and its 200 day moving average is $36.70.
Macy’s (NYSE:M) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. Macy’s had a return on equity of 27.68% and a net margin of 2.99%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. On average, equities analysts anticipate that Macy’s will post $3.36 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.3775 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.08%. Macy’s’s payout ratio is presently 60.64%.
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.
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