Macy’s, Inc. (NYSE:M) Given Average Recommendation of “Reduce” by Brokerages

Macy’s, Inc. (NYSE:M) has received an average rating of “Reduce” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $21.3333.

Several research firms have issued reports on M. Morgan Stanley upped their price objective on Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. Evercore lifted their target price on Macy’s from $14.00 to $21.00 and gave the company a “cautious” rating in a research note on Friday, December 5th. UBS Group set a $21.00 target price on Macy’s in a research report on Thursday, December 4th. Guggenheim assumed coverage on Macy’s in a report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Finally, Telsey Advisory Group lifted their price objective on Macy’s from $22.00 to $25.00 and gave the stock a “market perform” rating in a research report on Thursday, December 4th.

Macy’s Trading Down 4.8%

M opened at $18.27 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $4.86 billion, a PE ratio of 10.81 and a beta of 1.51. Macy’s has a 1-year low of $9.76 and a 1-year high of $24.41. The firm has a 50-day moving average price of $21.27 and a two-hundred day moving average price of $19.85.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a dividend of $0.1915 per share. The ex-dividend date is Friday, March 13th. This represents a $0.77 annualized dividend and a dividend yield of 4.2%. This is a positive change from Macy’s’s previous quarterly dividend of $0.18. Macy’s’s dividend payout ratio is presently 43.20%.

Insider Buying and Selling at Macy’s

In related news, EVP Danielle L. Kirgan sold 85,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $23.92, for a total value of $2,033,200.00. Following the transaction, the executive vice president directly owned 51,161 shares in the company, valued at $1,223,771.12. This represents a 62.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.77% of the stock is currently owned by company insiders.

Institutional Trading of Macy’s

A number of institutional investors have recently bought and sold shares of M. Hennessy Advisors Inc. bought a new stake in Macy’s in the 3rd quarter valued at $44,362,000. Y Intercept Hong Kong Ltd bought a new position in Macy’s during the 3rd quarter worth about $3,307,000. Allianz Asset Management GmbH raised its stake in shares of Macy’s by 2.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 3,223,138 shares of the company’s stock valued at $57,791,000 after purchasing an additional 65,395 shares during the period. SummerHaven Investment Management LLC acquired a new stake in shares of Macy’s in the 3rd quarter valued at about $1,192,000. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of Macy’s by 25.9% in the second quarter. Texas Permanent School Fund Corp now owns 304,192 shares of the company’s stock valued at $3,547,000 after purchasing an additional 62,596 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.