Macy’s Inc. (NYSE:M) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday. The firm currently has a $42.00 price target on the stock. Vetr‘s target price suggests a potential upside of 19.32% from the stock’s previous close.
M has been the subject of a number of other research reports. Citigroup Inc. raised Macy’s from a “neutral” rating to a “buy” rating and upped their price target for the company from $35.42 to $44.00 in a research report on Wednesday, September 14th. Guggenheim initiated coverage on Macy’s in a research report on Friday, September 30th. They set a “buy” rating and a $45.00 price target for the company. Credit Suisse Group AG downgraded Macy’s from an “outperform” rating to a “neutral” rating and set a $40.00 target price on the stock. in a report on Wednesday, September 28th. Deutsche Bank AG upgraded Macy’s from a “sell” rating to a “hold” rating in a report on Thursday, August 25th. Finally, Cowen and Company reiterated a “market perform” rating on shares of Macy’s in a report on Saturday, June 25th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Macy’s has an average rating of “Hold” and a consensus target price of $43.98.
Shares of Macy’s (NYSE:M) opened at 35.20 on Monday. Macy’s has a one year low of $29.94 and a one year high of $52.48. The company’s 50-day moving average price is $36.31 and its 200-day moving average price is $36.03. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 14.11 and a beta of 0.89.
Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The business earned $5.87 billion during the quarter, compared to analyst estimates of $5.73 billion. Macy’s had a return on equity of 27.68% and a net margin of 2.99%. Macy’s’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. On average, equities research analysts predict that Macy’s will post $3.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were issued a dividend of $0.3775 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.51 dividend on an annualized basis and a yield of 4.29%. Macy’s’s dividend payout ratio is presently 60.64%.
A number of large investors have recently bought and sold shares of M. Rothschild Investment Corp IL boosted its stake in Macy’s by 20.3% in the third quarter. Rothschild Investment Corp IL now owns 39,605 shares of the company’s stock worth $1,467,000 after buying an additional 6,680 shares in the last quarter. Charter Trust Co. boosted its stake in Macy’s by 6.1% in the third quarter. Charter Trust Co. now owns 10,193 shares of the company’s stock worth $378,000 after buying an additional 584 shares in the last quarter. National Pension Service boosted its stake in Macy’s by 9.3% in the third quarter. National Pension Service now owns 254,394 shares of the company’s stock worth $9,425,000 after buying an additional 21,678 shares in the last quarter. Premier Asset Managment LLC boosted its stake in Macy’s by 182.6% in the third quarter. Premier Asset Managment LLC now owns 42,325 shares of the company’s stock worth $1,568,000 after buying an additional 27,350 shares in the last quarter. Finally, Cohen Capital Management Inc. boosted its stake in Macy’s by 1.0% in the third quarter. Cohen Capital Management Inc. now owns 26,428 shares of the company’s stock worth $979,000 after buying an additional 250 shares in the last quarter. 83.31% 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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