Macy’s Inc. (NYSE:M) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They presently have a $42.00 price target on the stock. Vetr‘s target price suggests a potential upside of 12.78% from the stock’s current price.
A number of other analysts also recently issued reports on the stock. Goldman Sachs Group Inc. restated a “neutral” rating and set a $34.00 price target on shares of Macy’s in a report on Monday, August 1st. Zacks Investment Research raised shares of Macy’s from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, August 16th. Guggenheim started coverage on shares of Macy’s in a research report on Friday, September 30th. They set a “buy” rating and a $45.00 price objective for the company. Citigroup Inc. raised shares of 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 research report on Wednesday, September 14th. Finally, Deutsche Bank AG increased their price objective on shares of Macy’s from $35.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $43.98.
Macy’s (NYSE:M) opened at 37.24 on Monday. The stock’s 50 day moving average price is $36.77 and its 200-day moving average price is $36.32. Macy’s has a 12 month low of $29.94 and a 12 month high of $52.48. The firm has a market capitalization of $11.49 billion, a P/E ratio of 14.93 and a beta of 0.89.
Macy’s (NYSE:M) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.09. The business earned $5.87 billion during the quarter, compared to the consensus estimate of $5.73 billion. Macy’s had a net margin of 2.99% and a return on equity of 27.68%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. Equities analysts forecast that Macy’s will post $3.36 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Tuesday, September 13th. Macy’s’s payout ratio is 60.64%.
Several hedge funds have recently modified their holdings of M. Washington Trust Bank increased its stake in shares of 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 during the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of Macy’s during the second quarter valued at $133,000. Advisory Services Network LLC increased its stake in shares of 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 during the last quarter. First Manhattan Co. increased its stake in shares of 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 during the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of 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 during the last quarter. 83.27% of the stock is currently owned by institutional investors and hedge funds.
Macy’s Company Profile
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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