Macy’s Inc (NYSE:M) gapped down prior to trading on Friday after Royal Bank of Canada lowered their price target on the stock to $29.00. The stock had previously closed at $25.85, but opened at $26.11. Royal Bank of Canada currently has a sector perform rating on the stock. Macy’s shares last traded at $25.88, with a volume of 9361270 shares traded.
A number of other brokerages have also issued reports on M. Credit Suisse Group decreased their target price on Macy’s from $34.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday. Gordon Haskett downgraded Macy’s from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America downgraded Macy’s from a “neutral” rating to an “underperform” rating in a research note on Thursday. ValuEngine raised Macy’s from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Finally, Atlantic Securities downgraded Macy’s from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $39.00 to $28.00 in a research note on Thursday, December 6th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. Macy’s presently has an average rating of “Hold” and an average target price of $33.26.
In other news, President Harry A. Lawton III sold 200,000 shares of the stock in a transaction on Friday, November 16th. The stock was sold at an average price of $33.09, for a total transaction of $6,618,000.00. Following the completion of the transaction, the president now directly owns 226,038 shares in the company, valued at approximately $7,479,597.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William H. Lenehan purchased 3,154 shares of the stock in a transaction dated Friday, November 16th. The shares were acquired at an average price of $31.74 per share, with a total value of $100,107.96. Following the completion of the acquisition, the director now owns 11,214 shares in the company, valued at approximately $355,932.36. The disclosure for this purchase can be found here. 2.36% of the stock is owned by company insiders.
The company has a quick ratio of 0.24, a current ratio of 1.35 and a debt-to-equity ratio of 0.97. The company has a market cap of $9.75 billion, a PE ratio of 6.74, a PEG ratio of 0.91 and a beta of 0.67.
Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.13. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Macy’s had a return on equity of 22.33% and a net margin of 6.72%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. Analysts expect that Macy’s Inc will post 4.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th were paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 5.94%. The ex-dividend date was Thursday, December 13th. Macy’s’s payout ratio is presently 40.05%.
Macy’s Company Profile (NYSE:M)
Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.
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