Shares of Macy’s, Inc. (NYSE:M – Get Free Report) 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
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 – Get Free Report) 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.
Featured Articles
- Five stocks we like better than Macy’s
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- Does GTA VI Make Take-Two Interactive Stock an Irresistible Buy?
- Where Do I Find 52-Week Highs and Lows?
- Why HPE’s Dip Is a Prime Opportunity for Blue-Chip AI Investors
- Stock Splits, Do They Really Impact Investors?
- Why Analysts See Big Upside for Occidental Petroleum Despite Lows
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.