Macy’s (NYSE:M) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of Macy’s (NYSE:M) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

Several other brokerages have also recently weighed in on M. Citigroup reaffirmed a “neutral” rating on shares of Macy’s in a report on Wednesday, February 18th. Morgan Stanley boosted their price target on shares of Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. Zacks Research downgraded shares of Macy’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. TD Cowen restated a “hold” rating on shares of Macy’s in a report on Thursday, December 4th. Finally, Evercore lifted their price objective on shares of Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a research report on Friday, December 5th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Macy’s presently has a consensus rating of “Reduce” and an average price target of $21.33.

Macy’s Price Performance

M stock opened at $18.27 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. The firm has a market capitalization of $4.86 billion, a P/E ratio of 10.81 and a beta of 1.51. The business’s 50-day moving average is $21.27 and its two-hundred day moving average is $19.80. Macy’s has a 1 year low of $9.76 and a 1 year high of $24.41.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, December 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.22. Macy’s had a return on equity of 15.57% and a net margin of 2.10%.The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter last year, the business posted $0.04 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Analysts anticipate that Macy’s will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

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

Insider Transactions at Macy’s

In other Macy’s 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 document filed with the SEC, which is available at this hyperlink. 1.09% of the stock is owned by company insiders.

Institutional Trading of Macy’s

Institutional investors have recently modified their holdings of the stock. Strengthening Families & Communities LLC purchased a new stake in Macy’s in the fourth quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in shares of Macy’s during the fourth quarter worth about $29,000. Smartleaf Asset Management LLC grew its holdings in shares of Macy’s by 51.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock worth $34,000 after purchasing an additional 526 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Macy’s during the third quarter worth about $31,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Macy’s by 35.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,838 shares of the company’s stock valued at $41,000 after purchasing an additional 486 shares during the last quarter. Hedge funds and other institutional investors 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.