Macy’s, Inc. (NYSE:M) Given Consensus Recommendation of “Hold” by Brokerages

Macy’s, Inc. (NYSE:MGet Free Report) has been given an average recommendation of “Hold” by the nine brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $17.45.

A number of equities analysts have issued reports on the company. Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. Morgan Stanley decreased their target price on Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. The Goldman Sachs Group lifted their price objective on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 target price on shares of Macy’s in a report on Thursday, March 28th. Finally, TD Cowen lowered Macy’s from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $23.00 to $20.00 in a report on Thursday, February 29th.

Check Out Our Latest Stock Analysis on M

Macy’s Stock Performance

NYSE:M opened at $19.06 on Wednesday. The stock has a market cap of $5.23 billion, a P/E ratio of 51.51 and a beta of 2.15. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. The stock’s 50-day moving average is $19.56 and its 200-day moving average is $16.56. Macy’s has a 1-year low of $10.54 and a 1-year high of $22.10.

Macy’s (NYSE:MGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.47. The company had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.88 earnings per share. Equities research analysts anticipate that Macy’s will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.1737 dividend. This represents a $0.69 annualized dividend and a yield of 3.65%. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, March 14th. Macy’s’s dividend payout ratio is presently 186.49%.

Insider Buying and Selling

In other news, CFO Adrian V. Mitchell sold 13,249 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total value of $270,544.58. Following the sale, the chief financial officer now directly owns 99,098 shares of the company’s stock, valued at $2,023,581.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Antony Spring sold 13,404 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $273,709.68. Following the transaction, the chief executive officer now directly owns 223,286 shares of the company’s stock, valued at $4,559,500.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Adrian V. Mitchell sold 13,249 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $270,544.58. Following the completion of the transaction, the chief financial officer now directly owns 99,098 shares in the company, valued at approximately $2,023,581.16. The disclosure for this sale can be found here. Insiders have sold a total of 218,424 shares of company stock valued at $4,405,507 over the last ninety days. Company insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Macy’s by 7.8% during the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after purchasing an additional 2,645,577 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Macy’s by 15.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,398,149 shares of the company’s stock valued at $249,456,000 after purchasing an additional 1,685,986 shares in the last quarter. State Street Corp raised its position in Macy’s by 10.3% during the 2nd quarter. State Street Corp now owns 11,241,180 shares of the company’s stock valued at $182,203,000 after purchasing an additional 1,050,825 shares in the last quarter. Point72 Asset Management L.P. raised its position in Macy’s by 1,054.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock valued at $174,092,000 after purchasing an additional 9,906,912 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Macy’s by 27.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,106,073 shares of the company’s stock valued at $246,184,000 after purchasing an additional 2,155,936 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

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.

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Analyst Recommendations for Macy's (NYSE:M)

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