Macy’s, Inc. (NYSE:M) Receives Average Rating of “Hold” from Analysts

Shares of Macy’s, Inc. (NYSE:M) have been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $17.45.

A number of equities research analysts recently issued reports on M shares. Morgan Stanley dropped their price objective on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Citigroup raised shares of Macy’s from a “sell” rating to a “neutral” rating and upped their target price for the company from $14.00 to $18.00 in a research report on Friday, February 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $21.00 target price on shares of Macy’s in a research report on Thursday, March 28th. StockNews.com began coverage on shares of Macy’s in a research report on Wednesday. They issued a “hold” rating on the stock. Finally, TD Cowen cut shares of Macy’s from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $23.00 to $20.00 in a research report on Thursday, February 29th.

Macy’s Trading Up 0.4 %

Shares of M opened at $18.43 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.39 and a debt-to-equity ratio of 0.72. Macy’s has a 12-month low of $10.54 and a 12-month high of $22.10. The firm has a 50-day moving average price of $19.63 and a 200 day moving average price of $17.52. The firm has a market capitalization of $5.07 billion, a P/E ratio of 49.81 and a beta of 2.15.

Macy’s (NYSE:M) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The firm had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. Macy’s’s quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts forecast that Macy’s will post 2.57 EPS for the current year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Thursday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is currently 186.49%.

Insider Transactions at Macy’s

In other news, 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 transaction of $270,544.58. Following the sale, the chief financial officer now owns 99,098 shares of the company’s stock, valued at $2,023,581.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Adrian V. Mitchell sold 3,437 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $20.28, for a total value of $69,702.36. Following the sale, the chief financial officer now owns 104,200 shares of the company’s stock, valued at $2,113,176. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Adrian V. Mitchell sold 13,249 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $270,544.58. Following the completion of the sale, 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. Over the last quarter, insiders have sold 218,424 shares of company stock valued at $4,405,507. 1.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Macy’s

Several hedge funds have recently added to or reduced their stakes in M. Glassman Wealth Services increased its stake in Macy’s by 154.5% in the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock valued at $25,000 after purchasing an additional 743 shares during the last quarter. Lindbrook Capital LLC increased its stake in Macy’s by 253.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after purchasing an additional 944 shares during the last quarter. Riverview Trust Co purchased a new position in Macy’s in the first quarter valued at approximately $27,000. Fifth Third Bancorp increased its stake in Macy’s by 221.4% in the third quarter. Fifth Third Bancorp now owns 3,506 shares of the company’s stock valued at $41,000 after purchasing an additional 2,415 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Macy’s in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

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.