Macy’s (NYSE:M) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Macy’s (NYSE:MFree Report) in a report released on Saturday morning. The firm issued a hold rating on the stock.

Other research analysts also recently issued research reports about the company. Telsey Advisory Group reiterated a market perform rating and set a $21.00 target price on shares of Macy’s in a report on Thursday, March 28th. Morgan Stanley reduced their price target on Macy’s from $21.00 to $20.00 and set an equal weight rating on the stock in a research note on Wednesday, February 28th. TD Cowen lowered Macy’s from an outperform rating to a market perform rating and lowered their price objective for the company from $23.00 to $20.00 in a research report on Thursday, February 29th. Citigroup raised shares of Macy’s from a sell rating to a neutral rating and upped their target price for the stock from $14.00 to $18.00 in a research report on Friday, February 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Macy’s from $23.00 to $25.00 and gave the company an overweight rating in a research report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $17.45.

Read Our Latest Report on Macy’s

Macy’s Stock Performance

Shares of M stock opened at $20.08 on Friday. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 54.27 and a beta of 2.16. The stock has a fifty day moving average of $19.52 and a 200 day moving average of $18.48. Macy’s has a 52 week low of $10.54 and a 52 week high of $22.10. The company has a quick ratio of 0.39, a current ratio of 1.37 and a debt-to-equity ratio of 0.72.

Macy’s (NYSE:MGet Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The firm had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same period last year, the company posted $1.88 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, research analysts expect that Macy’s will post 2.54 earnings per share for the current year.

Macy’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.1737 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.69 annualized dividend and a dividend yield of 3.46%. Macy’s’s dividend payout ratio is presently 186.49%.

Insider Activity

In other Macy’s news, SVP Paul Griscom sold 2,969 shares of Macy’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now owns 21,436 shares of the company’s stock, valued at approximately $437,937.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Paul Griscom sold 2,969 shares of Macy’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the sale, the senior vice president now directly owns 21,436 shares in the company, valued at $437,937.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Gennette sold 30,090 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $19.66, for a total transaction of $591,569.40. Following the transaction, the director now directly owns 1,073,699 shares of the company’s stock, valued at $21,108,922.34. The disclosure for this sale can be found here. Insiders have sold a total of 218,424 shares of company stock worth $4,405,507 over the last 90 days. 2.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Macy’s

A number of large investors have recently made changes to their positions in M. Glassman Wealth Services raised its holdings in Macy’s by 154.5% in the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after purchasing an additional 743 shares during the period. Lindbrook Capital LLC raised its stake in shares of Macy’s by 253.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after buying an additional 944 shares during the period. Riverview Trust Co purchased a new position in shares of Macy’s during the 1st quarter valued at about $27,000. Fifth Third Bancorp lifted its position in shares of Macy’s by 221.4% during the 3rd quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock valued at $41,000 after buying an additional 2,415 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in Macy’s in the 1st quarter worth approximately $42,000. 87.36% of the stock is currently owned by institutional investors.

Macy’s Company Profile

(Get Free Report)

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.

Further Reading

Analyst Recommendations for Macy's (NYSE:M)

Receive News & Ratings for Macy's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macy's and related companies with MarketBeat.com's FREE daily email newsletter.