Macy’s Inc. (NYSE:M) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Monday. The brokerage presently has a $42.00 price objective on the stock. Vetr‘s target price points to a potential upside of 14.88% from the stock’s previous close.
Several other analysts also recently issued reports on M. Stifel Nicolaus restated a “hold” rating on shares of Macy’s in a report on Thursday, August 11th. Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating and set a $40.00 price objective on the stock in a report on Tuesday, July 26th. Standpoint Research began coverage on Macy’s in a report on Thursday, August 25th. They set a “buy” rating and a $72.00 price objective on the stock. Deutsche Bank AG boosted their price objective on Macy’s from $37.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, August 12th. Finally, Goldman Sachs Group Inc. boosted their price objective on Macy’s from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, August 12th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $43.98.
Shares of Macy’s (NYSE:M) opened at 36.56 on Monday. Macy’s has a 52-week low of $29.94 and a 52-week high of $52.48. The firm has a market capitalization of $11.28 billion, a PE ratio of 14.66 and a beta of 0.89. The company has a 50 day moving average of $37.14 and a 200 day moving average of $36.49.
Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.54 EPS for the quarter, topping the 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 firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the business earned $0.64 earnings per share. Macy’s’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, analysts anticipate that Macy’s will post $3.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were paid a $0.3775 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.13%. Macy’s’s payout ratio is 60.64%.
Several hedge funds and other institutional investors have recently modified their holdings of M. Washington Trust Bank raised its position in Macy’s by 11.2% in the third quarter. Washington Trust Bank now owns 2,947 shares of the company’s stock valued at $109,000 after buying an additional 297 shares in the last quarter. Americafirst Capital Management LLC bought a new position in Macy’s during the second quarter valued at about $133,000. Advisory Services Network LLC raised 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 valued at $161,000 after buying an additional 565 shares in the last quarter. First Manhattan Co. raised 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 valued at $166,000 after buying an additional 1,796 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in Macy’s by 39.2% in the second quarter. Private Advisor Group LLC now owns 5,971 shares of the company’s stock valued at $201,000 after buying an additional 1,683 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.
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.
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