Brokerages Set Macy’s, Inc. (NYSE:M) PT at $19.50

Shares of Macy’s, Inc. (NYSE:M) have received a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $19.50.

A number of brokerages have recently commented on M. StockNews.com initiated coverage on Macy’s in a report on Saturday. They set a “hold” rating on the stock. Evercore ISI dropped their price target on shares of Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 16th. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research note on Wednesday, August 21st. TD Cowen boosted their target price on shares of Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Finally, Morgan Stanley lowered their price target on Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd.

Insider Activity

In other news, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Antony Spring sold 18,981 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total transaction of $359,879.76. Following the sale, the chief executive officer now owns 267,265 shares of the company’s stock, valued at approximately $5,067,344.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Danielle L. Kirgan sold 24,147 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $457,827.12. Following the sale, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,665 shares of company stock valued at $842,372. 2.77% of the stock is currently owned by insiders.

Institutional Trading of Macy’s

A number of large investors have recently bought and sold shares of the business. Creative Planning boosted its position in Macy’s by 4.2% during the second quarter. Creative Planning now owns 62,703 shares of the company’s stock valued at $1,204,000 after purchasing an additional 2,554 shares during the last quarter. Algert Global LLC increased its stake in shares of Macy’s by 200.3% during the 2nd quarter. Algert Global LLC now owns 230,559 shares of the company’s stock worth $4,427,000 after purchasing an additional 153,789 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Macy’s in the 2nd quarter valued at about $57,000. Affinity Capital Advisors LLC acquired a new stake in Macy’s in the 2nd quarter valued at about $209,000. Finally, Alden Global Capital LLC lifted its stake in Macy’s by 56.1% in the 2nd quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock valued at $11,649,000 after purchasing an additional 218,146 shares during the last quarter. 87.36% of the stock is owned by institutional investors.

Macy’s Stock Down 1.7 %

M opened at $14.61 on Friday. The company has a market capitalization of $4.04 billion, a PE ratio of 487.00 and a beta of 2.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 0.34. Macy’s has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The business has a 50-day moving average of $16.66 and a 200-day moving average of $18.44.

Macy’s (NYSE:M) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. Macy’s’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. Equities research analysts forecast that Macy’s will post 2.73 EPS for the current fiscal year.

Macy’s Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.1737 per share. The ex-dividend date is Friday, September 13th. This represents a $0.69 annualized dividend and a yield of 4.76%. Macy’s’s dividend payout ratio is currently 2,300.00%.

Macy’s Company Profile

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.